Burmans raise stake in Religare to 30% via open market purchases

New Delhi: The Burman family has increased their stake in Religare Enterprises to about 30% in the past month through open market purchases following a restructuring announcement by the company in mid-February, as per multiple stock exchange filings.

Purchases were made by investment companies they control and also by certain family members directly, data showed.

Burmans are the promoters of consumer goods company Dabur. They also co-own Indian Premier League team Punjab Kings.


They acquired 13 million shares in Religare Enterprises between March 18 and March 27, as per data. This took their ownership to more than 100 million shares. Religare has 332.7 million shares outstanding.

On February 15, Religare Enterprises announced that it was transferring its lending, investment, broking, ancillary and support services into Religare Finvest. The entity would be listed and shareholders of Religare Enterprises would be offered shares in Religare Finvest in a ratio of 1:1.

Religare Enterprises would continue to hold a 62% stake in Care Health Insurance after this restructuring. Kedaara Partners and Union Bank of India are the other investors in the insurer.

The move was aimed at providing better value discovery for the insurance and other financial services businesses.

Religare Enterprises' shares have fallen around 13% since the mid-February restructuring announcement, mirroring the fall in the Sensex, the benchmark index for top 30 traded Indian stocks.

The company's shares closed at ₹202.05 on the BSE Monday, falling 8.4% in a single day.

Restructuring and eventual splitting of the insurance and financial services business into two separate listed entities is targeted at attracting a broader base of investors for both businesses, the company said at the time of the restructuring announcement.

Burman's acquired a controlling 25% stake in Religare Enterprises in February last year after an acrimonious boardroom battle in which they were pitted against the company's former chairperson, Rashmi Saluja.

As per shareholding data for the quarter ended December 31, 2025, they held 26.27% stake.

The family in November named its representatives to Religare's board. Anand Burman, Mohit Burman and Aditya Burman are set to join the board.