Religare Enterprises

May 12 (Reuters) - Religare Enterprises Ltd RELG.NS:

• MARCH-QUARTER CONSOL NET PROFIT 822.1 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 24.67 BILLION RUPEES

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Feb 25 (Reuters) - International Conveyors Ltd ICON.NS:

• BUYS SHARES OF RELIGARE ENTERPRISE

• ACQUISITION COST 75 MILLION RUPEES

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Jan 2 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES APPOINTS SURESH MAHALINGAM AS CHAIRPERSON

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Dec 16 (Reuters) - Religare Enterprises Ltd RELG.NS:

• IRDAI IMPOSES 10 MILLION RUPEES PENALTY ON UNIT CARE HEALTH INSURANCE

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July 23 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES LTD - RBI WITHDRAWS CONDITIONS ON RELIGARE FINVEST UNDER CORRECTIVE ACTION PLAN

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July 11 (Reuters) - Religare Enterprises Ltd RELG.NS:

• BOARD APPROVES FUNDRAISE UP TO 15 BILLION RUPEES

• TO ISSUE 63.8 MILLION CONVERTIBLE WARRANTS AT 235 RUPEES EACH

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July 9 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RBI APPROVES APPOINTMENT OF THREE DIRECTORS ON RELIGARE BOARD

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July 7 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES LTD - NAMES MALAY KUMAR SINHA AS NON-EXECUTIVE CHAIRPERSON

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May 20 (Reuters) - Religare Enterprises Ltd RELG.NS:

• MARCH-QUARTER CONSOL NET PROFIT 990.6 MILLION RUPEES

• MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 20.28 BILLION RUPEES

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March 26 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RASHMI SALUJA CEASES TO BE CHAIRPERSON OF RFL

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March 24 (Reuters) - Religare Enterprises Ltd RELG.NS:

• UNIT GETS TWO ORDERS RAISING AN INCOME-TAX DEMAND OF 1.05 BILLION RUPEES

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** Religare Enterprises RELG.NS climbs 2.4% to 241.11 rupees, after two sessions of losses

** Financial services provider seeks governance review

** Also approaches controlling investor, Burman family, for funds to tide over cash flow gap

** Stock jumped 18% on Feb 21, day after Burman family took control, but has eased gains to about 8% since then

** Year-to-date, stock down ~14%

(Reporting by Manvi Pant in Bengaluru)

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March 17 (Reuters) - India's Religare Enterprises RELG.NS on Monday said its board is seeking a governance review of the company and its units, and has also approached the billionaire Burman family for funding support after they took control of the company last month.

The Burman family, who founded and control consumer goods conglomerate Dabur India DABU.NS, acquired control of the financial services provider in February after a 17-month takeover battle.

The objective is to review past operating practices, suggest improvements and to identify any potential instances of misconduct by certain current and/or former employees of Religare and its units, the company said in an exchange filing.

Religare also said it observed a "cash-flow gap" over the next few months and has decided to approach the Burmans for immediate funding support to sustain the operations of the company.

The company did not specify details regarding the extent of the funding.

Previously, Religare, under former executive chairperson Rashmi Saluja, had sought to prevent the Burmans from raising their stake in the company. Saluja was ousted from the board in February as her reappointment did not go through.

(Reporting by Ashish Chandra in Bengaluru; Editing by Janane Venkatraman)

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Feb 24 (Reuters) - Elpro International Ltd ELPR.BO:

• ELPRO INTERNATIONAL LTD - ACQUIRES EQUITY SHARES OF RELIGARE ENTERPRISES

• ELPRO INTERNATIONAL - COST OF ACQUISITION OF SHARES OF RELIGARE ENTERPRISES AT 126 MILLION RUPEES

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** Shares of India's Religare Enterprises RELG.NS rise 5.4% to 235.20 rupees, their best pct gain since September 30

** Financial services provider's shares snap three-session losing streak

** Billionaire Burman family that owns Dabur DABU.NS on Thursday said they acquired control of company after a 17-month takeover battle

** RELG shares were down ~19% so far this year as of last close on uncertainties over takeover battle

(Reporting by Sethuraman NR in Bengaluru)

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Feb 20 (Reuters) - India's Burman family has acquired control of financial services provider Religare Enterprises RELG.NS, a spokesperson for the billionaire group said on Thursday.

The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, got the central bank's approval to buy more shares of Religare in December.

"Our immediate priority is to instill stability, strengthen governance, and drive sustainable growth at the company," the spokesperson said.

(Reporting by Ananta Agarwal in Bengaluru)

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Feb 14 (Reuters) - Religare Enterprises Ltd RELG.NS:

• INDIA MARKETS REGULATOR: DISPOSES OFF FEB 1, 2025 APPLICATION FILED BY DIGVIJAY LAXHAMSINH GAEKWAD IN MATTER OF RELIGARE ENTERPRISES

• INDIA MARKET REGULATOR: DISPOSES APPLICATION BY DIGVIJAY GAEKWAD SEEKING EXEMPTIONS FROM CERTAIN OPEN OFFER REGULATIONS FOR RELIGARE

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Feb 13 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES LTD - APPOINTS PRAVEEN KUMAR TRIPATHI AS CHAIRPERSON UNTIL JUNE 30, 2025

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Feb 6 (Reuters) - Religare Enterprises Ltd RELG.NS:

• UNIT GETS DEMAND ORDER FOR TAX OF 309.4 MILLION RUPEES, PENALTY OF 309.4 MILLION RUPEES

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Feb 3 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES - DANNY GAEKWAD WRITES TO INDIA MARKETS REGULATOR, RBI ON OPEN OFFER FOR CO

• RELIGARE ENTERPRISES - GAEKWAD APPLIES TO REGULATORS SEEKING EXEMPTION FOR COMPETING OPEN OFFER

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By Aditya Kalra

NEW DELHI, Jan 25 (Reuters) - India's Religare Enterprises RELG.NS said a U.S. businessman has made a proposal to acquire a 26% stake in it, the latest twist in the battle for control of the financial services company which has rejected another bid as being priced too low.

The Indian billionaire Burman family, which has founded and controls consumer goods conglomerate Dabur India DABU.NS, raised its stake in Religare to nearly 25% in September 2023, triggering a so-called open offer to buy more shares.

Through the open offer process, which starts on Jan. 27, the Burmans plan to buy around 26% more of Religare to bolster their presence in India's rapidly growing financial services sector, but Religare's independent directors flagged this week the offer price of 235 rupees per share was too low.

In a stock exchange disclosure late on Friday, Religare shared a letter from U.S. entrepreneur Digvijay "Danny" Gaekwad's firm requesting permission from Indian market regulator SEBI to make an open offer of 275 rupees per share for the Indian company, a 17% premium to the current offer.

A representative of the Burman family, Mohit Burman, and the market regulator SEBI did not immediately respond to requests for comment on Saturday. Florida-based Gaekwad did not immediately respond to a Reuters' email seeking comment outside of normal U.S. business hours.

Religare shares closed at 249.40 rupees on Friday, giving it a market value of 81.83 billion rupees ($949.30 million).

The Burmans, if they win control of Religare, will find themselves pitted against other Indian billionaire families in the financial services business, including Mukesh Ambani's Jio Financial Services JIOF.NS and family-controlled Bajaj Finance BJFN.NS.

But the Burmans' Religare bid has faced regulatory and legal challenges.

Earlier this week, Religare disclosed that a minority shareholder had approached the Delhi High Court, and was seeking to stop Burmans' open offer bid.

Legal papers show that the shareholder holds 500 shares in Religare, and the court on Tuesday issued a notice to Burmans and SEBI and said any subsequent action - such as an open offer - "shall be subject to the outcome" of the lawsuit.

($1 = 86.2000 Indian rupees)

(Reporting by Aditya Kalra and Siddhi Nayak; Editing by Muralikumar Anantharaman)

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** Shares of Religare Enterprises RELG.NS up 3% at 290 rupees

** Madhya Pradesh High Court on Thursday disposed a case filed by some minority share holders against co, NDTV Profit reported

** Court had earlier stayed Religare's annual general meeting (AGM) and billionaire Burman family's plan to buy more shares in co

** Case disposal paves way for AGM, Burman family's deal

** RELG stock down 7% after Madhya Pradesh High Court stayed co's AGM on Dec. 18

(Reporting by Sethuraman NR in Bengaluru)

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Dec 24 (Reuters) - Religare Enterprises Ltd RELG.NS:

• FINAL FORENSIC REVIEW REPORT ON RELIGARE FINVEST RECEIVED

• REPORT FORWARDED TO RBI AND SEBI FOR ACTION

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Dec 18 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES- UNIT GOT SEBI APPROVAL

• RELIGARE ENTERPRISES- APPROVAL IN CONTINUATION WITH APPLICATION FOR SHAREHOLDING CHANGE

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Dec 16 (Reuters) - Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES - CHIL RECEIVES LETTER OF ADVICE AND SHOW CAUSE NOTICE FROM IRDAI

• RELIGARE ENTERPRISES - NOTICE BASED ON IRDAI INSPECTION OF CHIL

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Dec 10 (Reuters) - The Reserve Bank of India (RBI) approved billionaire Burman family's plan to buy more shares in financial services provider Religare Enterprises RELG.NS, the company said on Tuesday.

The Burmans, who founded and control consumer goods conglomerate Dabur India DABU.NS, raised their stake in Religare to nearly 25% in September last year, triggering a so-called open offer to buy more shares.

The Burmans planned to buy around 26% more of Religare to bolster their presence in the rapidly growing financial services sector, but Religare refused to apply for regulatory approvals for the open offer.

Religare sought to prevent the Burmans from raising their stake, saying the offer was "riddled with irregularities and statutory violations and cast serious doubts on the fit and proper status of the acquirers".

The Burmans then approached the Securities and Exchange Board of India (SEBI), which, in June, asked Religare to apply for regulatory approvals for the open offer to go ahead.

Religare's shares were up 4% on Tuesday and have gained about 35% so far this year.

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

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Religare Enterprises Ltd RELG.NS:

• RELIGARE ENTERPRISES SEPT-QUARTER CONSOL NET PROFIT 684.9 MILLION RUPEES

• RELIGARE ENTERPRISES SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 19.52 BILLION RUPEES

• RELIGARE ENTERPRISES - GROUP CFO NITIN AGGARWAL WILL CEASE TO BE ASSOCIATED WITH CO

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** India's Nifty 50 .NSEI and Sensex .BSESN little changed at 26,215.4 and 85,714.17 points, respectively

** The blue chips hit record highs earlier in the session, extending a rally to their seventh straight session

** Indexes on track to log third straight week of gains

** Heavyweight indexes financials .NIFTYFIN, banks .NSEBANK and private banks .NIFPVTBNK drop about 0.5% each, weighing on NSEI

** The banking and financials sectors have performed well in the recent weeks and are seeing drop in shares due to some profit taking at higher levels, said Religare Broking's Ajit Mishra

** Gains on the benchmarks fueled by information technology stocks .NIFTYIT, up 0.8%, after Accenture ACN.N posted better-than-expected quarterly earnings

** IT firms look up to Accenture for cues on demand environment in key market, the U.S.

** Seven of the 13-major sectoral indexes log gains

(Reporting by Manvi Pant in Bengaluru)

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Sept 23 (Reuters) - Religare Enterprises Ltd RELG.NS:

• DISMISSES ALL ALLEGATIONS MADE BY INGOVERN REPORT

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Sept 19 (Reuters) - Religare Enterprises Ltd RELG.NS:

• HAS BECOME EXTERNAL DEBT FREE

• RE-PAID OUTSTANDING TERM LOAN FOR 1.64 BILLION RUPEES FROM JM FINANCIAL PRODUCTS

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