Mumbai, Jan 26 UNI) A twist has emerged from as far as the US in the ongoing takeover saga of Religare Enterprises by the Burman family, a company official said on Sunday

A Florida-based businessman Danny Gaekwad has evinced interest in the deal and ntends to make a competing cash offer for Religare enterprises of Rs 275 per share. The price is 17% above the Rs 235 per share bid made by the Burman Family of the Dabur Group, the open offer of which is scheduled to begin on Monday.

“I believe that the business of REL is robust and will do even better with a stable and committed promoter/investor that can provide adequate capital and undivided attention to the business. Unlike the Burmans, I do not have any other NBFC in our group and will be able to provide our undivided attention and infuse capital in the business,” an exchange filing from Religare Enterprises said.

The filing attached the offer letter from Danny Gaekwad Developments & Investments.

At present, the Burman Family’s entities have a 25 per cent stake in Religare Enterprises and form the largest shareholders in the company.

The stock market regulator gave its approval for the open offer to the Burman family on December 20, 2024, while the Reserve Bank of India gave its nod on December 9, 2024.

In their letter, Gaekwad Developments says the offer of Rs 275 per share ‘provides a fairer exit opportunity for public shareholders.’ UNI AAA SSP