Battle for Religare: US investor Gaekwad fails to pay ₹600 crore as per SC deadline of Feb 13
Digvijay Gaekwad had proposed an open offer to acquire a 55% stake in Religare at ₹275 per share, significantly higher than the Burman family’s offer pegged at ₹235 per share. He had moved the Supreme Court last week, to challenge the open offer of the Burmans. Gaekwad had argued that the Burman open offer undervalued the company.
Digvijay Gaekwad had proposed an open offer to acquire a 55% stake in Religare at ₹275 per share, significantly higher than the Burman family’s offer pegged at ₹235 per share. He had moved the Supreme Court last week, to challenge the open offer of the Burmans. Gaekwad had argued that the Burman open offer undervalued the company.
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