The unexpected move comes even as the Burmans of Dabur are about to launch their open offer for the Delhi-based company. Digvijay (Danny) Gaekwad’s offer to acquire Religare shares at Rs 275 apiece is at a 17% premium to that of the Burmans. The proposed competing open offer will be for 26% of the outstanding share capital of REL.
Rate cut expected, RBI’s views in focus with economy near a sizzle
Economists anticipate the Reserve Bank of India will reduce interest rates this week. This decision comes amid decreasing inflation. Experts await the central bank’s insights