Three Companies Acquire Shares in Religare Enterprises

  • Approved by The Competition Commission of India (CCI).
  • acquisition of shareholding in Religare Enterprises Limited by Puran Associates Private Limited, M.B. Finmart Private Limited, and VIC Enterprises Private Limited, Milky Investment and Trading Company.

The Acquirers

  • They are all non-deposit-accepting non-banking financial companies (NBFCs) engaged primarily in the business of making investments in capital markets and providing secured and unsecured loans.
  • They are controlled by members of the Burman Family.
  • The Burman Family has investments across various sectors such as home healthcare, restaurants, insurance, consumer goods, FMCG, etc.

Religare

  • It is a public limited company listed on the BSE and the National Stock Exchange in India.
  • It is registered as a non-deposit-accepting NBFC and as a core investment company with the Reserve Bank of India.
  • It is engaged in the financial services business through its subsidiaries and operating entities.
  • It is in the business of general insurance, provision of loans to SMEs, housing finance, and retail broking.
Posted in Current Affairs.