Index Investing News
Saturday, October 4, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

SEBI rejects US-based Danny Gaekwad’s bid to select up 26% stake in Religare Enterprises

by Index Investing News
January 28, 2025
in Financial
Reading Time: 2 mins read
A A
0
Home Financial
Share on FacebookShare on Twitter


The Securities and Alternate Board of India (SEBI) has rejected the competing open supply from US-based Danny Gaekwad Developments & Investments for the acquisition of a 26 % stake in Religare Enterprises Ltd (REL). The regulator acknowledged that the supply didn’t adjust to required rules.

In a communication to REL on January 28, SEBI clarified that the “letters submitted by Digvijay Laxmansinh Gaekwad” had been being returned, as they didn’t qualify as an exemption utility underneath Regulation 11 of the SEBI (SAST) Laws, 2011. The rejection referenced an e mail from January 25, 2025, which included a letter from Gaekwad’s entity, Danny Gaekwad Developments & Investments, based mostly in Florida.

Danny Gaekwad Developments & Investments had proposed buying a 26 % stake in Religare Enterprises at a worth larger than the one provided by the 4 Burman family-controlled entities. Gaekwad, a self-proclaimed globally acknowledged investor, provided Rs 275 per share — 17 % greater than the Burmans’ supply of Rs 235 per share.

The Burman household’s open supply to accumulate a further 26 % stake in REL commenced on January 27 following regulatory approval. The supply covers as much as 90,042,541 absolutely paid-up fairness shares, representing 26 % of REL’s expanded voting share capital. If accepted, the Burman household’s stake in REL will rise to 53.94 %.

The Burman entities concerned within the open supply embody Finmart Personal Ltd, Puran Associates Personal Ltd, VIC Enterprises Personal Ltd, and Milky Funding & Buying and selling Firm. As of September 30, 2024, these entities collectively owned 25.12 % of REL.

In September 2023, the Burman household — promoters of Dabur India and different firms like Eveready Industries — by its entities, introduced an open supply price Rs 2,116 crore to accumulate as much as a 26 % stake in REL.

Following the open supply, the Burmans raised a criticism with SEBI concerning insider buying and selling violations by the chairperson and her board appointments.

This was challenged by REL’s unbiased administrators, who flagged issues about fraud and different alleged violations by the Burman household entities and reported the matter to regulators together with SEBI, RBI, and the Insurance coverage Regulatory and Improvement Authority.

(With inputs from PTI)



Source link

Tags: bidDannyenterprisesGaekwadspickrejectsReligareSEBIstakeUSBased
ShareTweetShareShare
Previous Post

Securitize Adopts Wormhole to Enhance Liquidity for Institutional Tokenized Belongings

Next Post

Small traders purchased the dip in Nvidia by a document quantity Monday

Related Posts

Humana’s Medicare Benefit star scores slip for 2026

Humana’s Medicare Benefit star scores slip for 2026

by Index Investing News
October 3, 2025
0

This story was initially revealed on Healthcare Dive. To obtain every day information and insights, subscribe to our free every...

Trump says Gaza talks ‘very profitable with huge gamers’ regardless of disagreement over Palestine state recognition

Trump says Gaza talks ‘very profitable with huge gamers’ regardless of disagreement over Palestine state recognition

by Index Investing News
September 24, 2025
0

US President Donald Trump on Tuesday (native time) mentioned {that a} high-level assembly regarding the state of affairs in Gaza...

Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

Ted Cruz blasts FCC chair’s ‘mafioso’ tactic to bench Kimmel

by Index Investing News
September 20, 2025
0

Senator Ted Cruz has grow to be essentially the most outstanding Republican to criticize Federal Communications Fee Chair Brendan Carr,...

B-Inventory’s Director of Strategic Operations, Joanie Stolos, Named Recipient of 2025 Ladies in Provide Chain Award

B-Inventory’s Director of Strategic Operations, Joanie Stolos, Named Recipient of 2025 Ladies in Provide Chain Award

by Index Investing News
September 16, 2025
0

Award acknowledges completed feminine leaders whose examples set a basis throughout all ranges of an organization’s provide chain community SAN...

Hercules Capital: A 9.78% Dividend Yield From U.S. Enterprise Debt (NYSE:HTGC)

Hercules Capital: A 9.78% Dividend Yield From U.S. Enterprise Debt (NYSE:HTGC)

by Index Investing News
September 8, 2025
0

This text was written byObserveThe fairness market is a robust mechanism as day by day fluctuations in value get aggregated...

Next Post
Small traders purchased the dip in Nvidia by a document quantity Monday

Small traders purchased the dip in Nvidia by a document quantity Monday

Trump pauses federal loans, grants as administration evaluations spending

Trump pauses federal loans, grants as administration evaluations spending

RECOMMENDED

Wagner Group leader’s revolt, exile: How it affects Putin’s power

Wagner Group leader’s revolt, exile: How it affects Putin’s power

June 25, 2023
Sunderland: Michut struggled badly v Fulham

Sunderland: Michut struggled badly v Fulham

February 9, 2023
Airbus may delay some 2023 jet deliveries -sources By Reuters

Airbus may delay some 2023 jet deliveries -sources By Reuters

November 27, 2022
Ruud van Nistelrooy ‘disillusioned’ and ‘damage’ after slicing ties with Man Utd

Ruud van Nistelrooy ‘disillusioned’ and ‘damage’ after slicing ties with Man Utd

December 3, 2024
Ski-In Townhome at The Ridge in Canyons Village, Park Metropolis, UT

Ski-In Townhome at The Ridge in Canyons Village, Park Metropolis, UT

October 25, 2024
Salesforce positive aspects momentum as AI technique resonates with purchasers: Wedbush

Salesforce positive aspects momentum as AI technique resonates with purchasers: Wedbush

September 29, 2024
JoBlo Celebrates Depraved’s NYE house launch in Napa with Jon M. Chu!

JoBlo Celebrates Depraved’s NYE house launch in Napa with Jon M. Chu!

December 26, 2024
New ‘social housing’ developer becomes official, but when will it be funded?

New ‘social housing’ developer becomes official, but when will it be funded?

March 3, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In