Burmans hike Religare stake
₹217.95 apiece, according to the BSE. This puts the size of the deal at around ₹534 crore. The Burman family began making financial investments outside of its primary business Dabur Ltd after the separation of management and ownership, Burman told Mint on 2 January 2023.
In addition to Dabur, Mohit Burman is invested in Eveready Industries, two insurance companies (Aviva Life Insurance, Universal Sompo General Insurance), as well as a QSR (Quick Service Restaurants) business under Taco Bell. He also owns a stake in Kings Punjab, the IPL franchise. Earlier in December 2022, other members of the larger Burman family—Amit Burman and Saket Burman—sold 1% stake to raise over ₹1,000 crore to fund their private ventures, Mint reported at the time.
On Wednesday, the shares of Religare Enterprises hit a 52-week high of ₹242.55 per share, before settling at around ₹233.35 per share at the end of trading hours on the exchanges. Religare Enterprises reported a consolidated net profit of ₹92.53 crore over a revenue of ₹1,302.46 crore in the quarter ended June 2023, against a net loss of ₹76.20 crore over a revenue of ₹1,051.07 crore in the June 2022 quarter. “We value the continued support and confidence of our shareholders.
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