M&A

M&A

Dabur's Burmans turn promoters of Eveready Industries

PTI  

The Burman family, promoter of FMCG firm Dabur India, has now also become the promoter of publicly listed, Kolkata-based flashlight and battery maker Eveready Industries. Entities belonging to the Burman family - Puran Associates, VIC Enterprises, MB Finmart, Gyan Enterprises and Chowdry Associates - now jointly own 38.38% in Eveready Industries after the completion of an open offer. In February this year, the Burman family, acquired a 23.83% in Eveready Industries and made a INR 604.76 crore open offer to acquire an addditional 26% stake, at a price of INR 320 per share. The open offer garnered an additional 14.55%.