New Delhi, Feb. 21 -- Shares of Religare Enterprises surged 8.5 percent on Friday, February 21, after the Burman family officially acquired control of the company, becoming its promoters.

The development marked the conclusion of an 18-month-long takeover battle for the Delhi-based financial services firm. In a statement, the Burman family expressed gratitude to regulators, shareholders, and stakeholders for their trust and confidence in the transition.

Following the completion of the open offer, the Burman family's shareholding in Religare Enterprises Limited (REL) now stands at 83,201,819 equity shares, representing 25.16 percent of the total paid-up capital. With this acquisition, the Burman family has been designated as the official ...