Poor response to Burmans' open offer for Religare

NEW DELHI: Burmans' open offer of Rs 2,116 crore for the acquisition of additional 26% stake in Religare Enterprises has received tepid response.

As per the data of open offer, against 90,042,541 shares, only 231,025 shares (0.1%) were tendered.

The open offer closed on Feb 13 and the date of payment of consideration was Feb 17, the data showed.

The tender price for open offer was fixed at Rs 235 per share. Following the open offer, the shareholding of four entities would rise to 24%.

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