Religare Enterprises seeks funding from Burman family
Board of Religare Enterprises is seeking a governance review of the company and its units. Additionally, the financial services provider has approached the Burman family for funding support following their recent takeover of the company.
The Burman family, renowned for founding and controlling consumer goods giant Dabur India, secured control of Religare Enterprises in February after a prolonged 17-month takeover battle, Reuters reported.
Religare Enterprises Limited is a diversified financial services group present across three verticals. REL offers an integrated suite of financial services through its underlying subsidiaries and operating entities, including loans to SMEs, Affordable Housing Finance, Health Insurance and Retail Broking. REL is listed on the BSE (formerly Bombay Stock Exchange) and National Stock Exchange (NSE) in India.
As a group, Religare caters to diverse segments of the market from mass retail to affluent, SMEs to mid-size corporates. Subsidiaries service over 1.1 mn. clients from over 1,275 locations having presence in more than 400 cities.
