Burman family leads ₹1.5K cr fund infusion into Religare Enterprises

The Burman family, owners of Dabur and promoters of Religare, will contribute ₹750 crore-half of the total infusion-demonstrating their continued commitment to the financial services firm

Financial services firm Religare Enterprises Ltd (REL) has secured a ₹1,500 crore growth capital commitment from a group of marquee investors, led by the Burman family of Dabur, which is also the company’s promoter group.

 

The capital will be raised via a preferential allotment of convertible warrants at ₹235 per share.

 

The Burman family, owners of Dabur and promoters of Religare, will contribute ₹750 crore, half of the total infusion, demonstrating continued commitment to the financial services firm.

 

 

The remaining ₹750 crore will be invested by high-profile names including the Hindustan Times (HT) Media Group, investor Ashish Dhawan, and JM Financial.

 

 

The deal is aimed at powering Religare’s next phase of growth and will help scale up its lending, insurance, and broking businesses. The funds are expected to be deployed across its key verticals including SME lending, affordable housing finance, health insurance, and retail broking, said a company statement.

 

“The capital infusion underscores investor confidence in Religare’s turnaround strategy and future potential,” the company said in a statement following a board meeting that approved the fundraise.

 

As part of the transaction, Religare will issue over 6.38 crore warrants, each convertible into one equity share of ₹10 face value, on a preferential basis.