The Promoter Group of Religare Enterprises Limited has disclosed details of a substantial acquisition/sale of shares under applicable regulations. The total current shareholding, inclusive of warrants and other convertible instruments, now stands at 30.84% of the total diluted share capital. This disclosure captures changes arising from both conversion of warrants (December 2025) and open market purchases (March 2026) by entities related to the Promoter Group.
Disclosure Summary for Promoter Group Activities
This disclosure pertains to the acquisition and disposal of shares and voting rights in Religare Enterprises Limited (the Target Company, TC) by the Promoter Group entities, including M.B. Finmart Private Limited, Puran Associates Private Limited, VIC Enterprises Private Limited, Milky Investment & Trading Company, and Mrs. Shivani Burman (PAC).
Shareholding Before Transactions
Prior to the current set of transactions, the combined holding of the Promoter Group in terms of shares carrying voting rights was 18,506,785, representing 5.56% of the total capital, and 4.66% of the total diluted capital.
The initial total holding, aggregating voting rights, encumbrances, and instruments convertible into shares (a+b+c+d), amounted to 117,333,110, which was equivalent to 29.57% of the total diluted share capital.
Details of Acquisition/Sale Activities
The reporting period captured both the conversion of warrants and open market acquisition of shares:
- Conversion of Warrants (Effective December 5, 2025): A total of 1,985,816 warrants were converted into an equal number of equity shares across the four primary entities.
- Acquisition from Open Market (March 9 to March 17, 2026): A total of 5,037,932 equity shares were acquired. The largest single recipient in this phase was Puran Associates Pvt. Ltd., acquiring 2,646,883 shares. Mrs. Shivani Burman acquired 2,391,049 shares.
- The net aggregate acquisition/sale across all categories (shares, VRs, warrants) totaled 70,23,748 instruments, representing a net gain of 2.11% concerning total share capital.
Shareholding After Transactions
Following the reported transactions, the total holding of the Promoter Group in shares carrying voting rights increased to 1,87,90,473 for M.B. Finmart Pvt. Ltd. and a total of 2,57,55,533 for VIC Enterprises Pvt Ltd.
The consolidated total holding (a+b+c+d) after the acquisition/sale now stands at 12,23,71,042, representing 30.84% of the total diluted share/voting capital of the TC.
Capital Structure Context
The Equity Share Capital/Total Voting Capital of the TC remained constant at 33,28,90,479 before and after the transactions. However, the Total Diluted Share/Voting Capital of the TC post-acquisition is 39,67,97,119, reflecting the full conversion impact of outstanding warrants and ESOPs.
Authorizations
This disclosure, dated March 18, 2026, was authorized and signed on behalf of the entities by Akhil Mahajan and Shivani Burman as Authorised Signatories.
Source: BSE
