Dabur promoters, the Burman family, confirmed to CNBC-TV18 that they have acquired a block of shares in Eveready Industries on Tuesday. It ups their stake in the company to 20 percent.
On Tuesday morning there were speculations about the buyers of Eveready’s 50 lakh shares being Burman family as they already held an 11 percent stake in the company through various family investments.
CNBC-TV18 got a confirmation from the Burman family’s spokesperson, saying that it was indeed them who bought the additional 50 lakh shares in their personal capacity.
The stake buying has nothing to do with the listed Dabur entity. The earlier 11 percent investment was also held in personal capacity.
The 20 percent stake makes the Burman family the largest strategic investor in Eveready Industries.