The Burman family, founders of consumer goods conglomerate Dabur India, has acquired control of financial services provider Religare Enterprises. The acquisition was made possible after the Burmans received approval from the central bank in December. A spokesperson for the Burman family stated that their immediate priority is to “instill stability, strengthen governance, and drive sustainable growth at the company”. This is a significant development as Religare Enterprises has been facing financial and operational challenges in recent years.
The acquisition is expected to bring about a change in the management of the company, which is a significant step towards stabilizing the company’s operations. The Burman family, through their holding company, will now be responsible for making key decisions regarding the management and strategy of Religare.
The spokesperson for the Burman family mentioned that they plan to work with the existing management team to achieve their goals. This indicates that the family will focus on supporting the existing team rather than making significant changes.
The acquisition of Religare Enterprises is a significant move by the Burman family, which is known for its business acumen and ability to turn around struggling companies. With their experience and expertise, they are likely to infuse new life into Religare and help it achieve its true potential. The development is also expected to bring stability to the financial services sector, which has been facing turmoil in recent years.
In conclusion, the acquisition of Religare Enterprises by the Burman family is a significant development that is expected to bring stability and growth to the company. With their experience and expertise, they will work to strengthen the company’s governance structure and drive sustainable growth, while also supporting the existing management team. The acquisition will also bring stability to the financial services sector, which has been facing challenges in recent years.