<ul data-eligibleForWebStory="false"><li>Religare's board has approved a Rs 1,500 crore fundraise through preferential allotment, allowing the Burman family to increase their stake.</li><li>The fundraise involves issuing 6.38 crore warrants at a discounted price of Rs 235 per warrant, convertible into equity shares within 18 months.</li><li>Entities linked to the Burman family will contribute Rs 750 crore, with other investors like JM Financial Credit and Ashish Dhawan providing the remaining Rs 750 crore.</li><li>The funds raised will support business expansion and new strategic initiatives, increasing the Burman family's stake in Religare to around 29.6% from 25.7%.</li></ul>

Religare Board Approves Rs 1,500-Crore Fundraise As Burman Family Looks At Fund Infusion

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