**Danny Gaekwad: A Wild Card in the Religare Enterprises Battle**
Danny Gaekwad, an American entrepreneur and politician originally from Baroda, has made headlines with his recent endorsement of Donald Trump in the latter’s presidential campaign. Gaekwad, who has significant political connections in the U.S., is now positioning himself in the ongoing struggle for control of Religare Enterprises Ltd. The current chair, Rashmi Saluja, along with the Dabur group’s Burman family, has been fiercely competing for dominance over the financial services firm for more than a year.
In a surprising move, Gaekwad has proposed an open offer to acquire a 26% stake in Religare Enterprises at ₹275 per share, which represents a 17% premium over the Burmans’ recent offer. As of the last trading session, Religare’s shares closed at ₹247.20 each, reflecting a decline of 1.14%.
**Who is Danny Gaekwad?**
At 60 years old, Gaekwad is a successful first-generation immigrant who has established a robust portfolio in real estate and hospitality. Much of the information about him comes from his personal website, which he shared with the Securities and Exchange Board of India to validate his investment credentials.
Born to a judge in Baroda, Gaekwad relocated to the U.S. in 1987 with his wife, Manisha. He studied political science at Maharaja Sayajirao University of Baroda. Shortly after arriving in the U.S., he launched a convenience store in Orlando, Florida, with a $5,000 loan from friends. Within eight years, he expanded this venture into a chain of 26 stores.
Following this success, Gaekwad founded NDS USA, a medical billing and transcription company that he claims became the largest in the world in its field. In 1997, he ventured into hospitality and real estate development, and today, he owns numerous properties, including well-known brands such as Intercontinental Hotel Group, Carlson Hotel Group, and Hilton Hotel Worldwide. Additionally, he possesses a mansion on a sprawling 500-acre estate in Florida. Gaekwad has two sons, Kunal and Karan, and his flagship company, Danny Gaekwad Developing and Investments, oversees his real estate ventures and other subsidiaries.
