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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Earnings Impact6/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk5/10
Liquidity Impact5/10
Market Sentiment7/10

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Religare Enterprises Ltd - 532915 - Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011

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11BCD40C_7AD3_4494_9914_697D26B3E06F_152457.pdf

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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.