US investor to seek banker as Sebi 'returns' its Religare offer

Quick Summary:

Digvijay Laxmansinh Gaekwad, a Florida-based investor, is required to appoint a merchant banker to comply with Sebi's takeover rules before making an acquisition offer for Religare Enterprises.

Gaekwad has offered Rs 275 per share, a 17% premium over the Burmans' Rs 235 offer.

Approval from RBI is required for him to open an escrow account.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaChinaOmanTaiwan

Topics: Dabur Burmans Business news Open offer Sebi Digvijay Laxmansinh Gaekwad Religare Enterprises

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 10:13:12 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 746 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25595996

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