BSEInsider Trading / SAST22 Jun 2026 · 22 Jun 2026, 03:25 pm
The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Ashish Dhawan
Religare Enterprises Ltd · 532915
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Ashish Dhawan has increased his stake in Religare Enterprises Ltd, with his total holding now at 5.42% of the diluted share capital. This increase is primarily due to the conversion of 1.7 million warrants into equity shares, issued at Rs. 235 per warrant, alongside secondary market purchases of 1.33 million equity shares. The acquisition triggered a disclosure under SEBI's Substantial Acquisition of Shares and Takeovers Regulations as his stake crossed the 5% threshold.
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Full Announcement
Religare Enterprises Ltd - 532915 - Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
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Date: 20th June, 2026
The Manager, Dept. of The Manager, Listing Dept., Mr. Anuj Jain
Corporate Services, National Stock Exchange of Company Secretary,
BSE Limited, India Limited, Religare Enterprises Limited,
First Floor, Office No. 101,
Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra
2E/23, Jhandewalan Extn.,
Dalal Street, Kurla
Mumbai 400001 Complex, Bandra (East),
Delhi – 110055
E: corp.relations@bseindia.com Mumbai 400051
E: jain.anuj@religare.com,
Scrip Code: 532915 E: takeover@nse.co.in
investorservices@religare.in
Scrip Code: RELIGARE
Dear Sir,
Sub : Disclosure in terms of Regulation 29(1) of the SEBI (Substantial Acquisition of Shares
and Takeovers) Regulations, 2011
Pursuant to Regulation 29(1) of SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011, please find enclosed the disclosures required under the said Regulations
relating to acquisition of shares of Religare Enterprises Limited.
You are requested to take the same on your records.
Sincerely,
Name: Ashish Dhawan
Format for disclosures under Regulation 29(1) of SEBI (Substantial Acquisition of Shares and
Takeovers) Regulations, 2011
Part-A - Details of the Acquisition
Religare Enterprises Limited
Name of the Target Company (TC)
Acquirer : Mr. Ashish Dhawan
Name(s) of the acquirer and Persons Acting in Concert
(PAC) with the acquirer
Whether the acquirer belongs to Promoter/Promoter
group
BSE Limited &
Name(s) of the Stock Exchange(s) where the shares of
National Stock Exchange of India Limited
TC are Listed
Number % w.r.t. total % w.r.t. total
share/votin diluted
Details of the acquisition as follows
g capital share/voting
wherever capital of the TC
applicable(* (**)
Before the acquisition/disposal under consideration,
holding of acquirer along with PACs of:
a) Shares carrying voting rights 1,48,50,000 4.35% 3.74%
b) Shares in the nature of encumbrance (pledge/ ---- ---- ----
lien/ non-disposal undertaking/ others)
c) Voting rights (VR) otherwise than by shares
---- ---- ----
d) Warrants/convertible securities/any other
instrument that entitles the acquirer to receive
53,19,148 NA^ 1.34%
shares carrying voting rights in the T C (specify
holding in each category)
e) Total (a+b+c+d) 2,01,69,148 NA^ 5.08%
Details of acquisition
a) Shares carrying voting rights acquired
30,30,852# 0.89% 0.76%
a) VRs acquired /sold otherwise than by shares
---- ---- ----
b) Warrants/convertible securities/any other
(17,00,000)$ NA^ (0.43%)
instrument that entitles the acquirer to receive
shares carrying voting rights in the TC (specify
holding in each category) acquired
c) Shares in the nature of encumbrance (pledge/
---- ----
lien/ non-disposal undertaking/ others)
----
d) Total (a+b+c+/-d)
--- - ----
----
After the acquisition, holding of acquirer along with
PACs of:
1,78,80,852 5.24% 4.51%
a) Shares carrying voting rights
--- --- ---
b) VRs otherwise than by shares
c) Warrants/convertible securities/any other
instrument that entitles the acquirer to receive 36,19,148 NA^ 0.91%
shares carrying voting rights in the TC (specify
holding in each category) after acquisition
d) Shares in the nature of encumbrance (pledge/ --- --- ---
lien/ non-disposal undertaking/ others)
2,15,00,000
NA^ 5.42 %
e) Total (a+b+c+d)
Secondary market
Mode of acquisition/sale (e.g. open market / off-market /
Since the last disclosure dated April 17, 2026
public issue / rights issue / preferential allotment / inter-
disclosing holding of 14,850,000 equity shares,
se transfer etc).
acquirer acquired 13,30,852 equity shares
through secondary market
Conversion of warrants
17,00,000 warrants issued at Rs.235 per warrant
were converted into equal number of Equity
Shares of face value Rs. 10 each on 04.06.2026.
Intimation of allotment received vide TC’s email
dated June 20, 2026.
Salient features of the securities acquired including time
till redemption, ratio at which it can be converted into
equity shares, etc.
Conversion of warrants – June 04, 2026
Date of acquisition of / date of receipt of intimation of
Date of receipt of intimation of allotment of
allotment of shares / VR/ warrants/convertible
shares pursuant to conversion of warrants –
securities/ any other instrument that entitles the acquirer
June 20, 2026
to receive shares in the TC.
33,28,90,479@
Equity share capital / total voting capital of the TC before
the said acquisition
34,12,33,742*
Equity share capital/ total voting capital of the TC after
the said acquisition
39,68,19,811**
Total diluted share/voting capital of the TC after the said
acquisition
(^) Not applicable as warrants are not converted as part of pre-acquisition share capital.
(@) Total share capital/ voting capital to be taken as per the latest filing done by the TC to
the Stock Exchange under Clause 35 of the Listing Agreement (renamed as Regulation 31 of
SEBI LODR). The total share capital/ voting capital considered is 33,28,90,479 equity shares
as on 31.03.2026 (as disclosed in the filing done by the TC under Regulation 31 of SEBI LODR).
(*) Total share capital/ voting capital to be taken as per the latest filing done by the TC to
the Stock Exchange under Clause 35 of the Listing Agreement (renamed as Regulation 31 of
SEBI LODR). The total share capital/ voting capital considered is 34,12,33,742 equity shares
as on 04.06.2026 (as disclosed in the latest filing done by the TC under Regulation 31 of SEBI
LODR).
(**) Diluted share/voting capital means the total number of shares in the TC assuming full
conversion of 5,35,00,703 convertible warrants and 20,85,366 outstanding ESOPs in equity
shares of the TC.
#comprises of 13,30,852 equity shares acquired through secondary market and 17,00,000
equity shares acquired through allotment made by TC on June 04, 2026 pursuant to exercise
of convertible warrants by acquirer. Intimation of allotment received vide TC’s email dated
June 20, 2026.
$1700,000 warrants pursuant to conversion are extinguished.