Promoter shareholding in Eveready falls below 5% for first time

The Burman family, the promoters of Dabur, are currently the single-largest shareholder of Eveready. The family acquired additional equity stake of 8.48% in the battery maker from open market operations in July, taking its holding in the company to 19.84%.

Promoter group Khaitan family’s stake in Eveready Industries has slipped below five per cent after Vistra ITCL (India), the largest independent corporate.

The Khaitan family currently has two board seats in the company after group patriarch BM Khaitan resigned from the board of directors effective April 25, 2019. He passed away on June 1, 2019. The Burmans do not have a seat on the board at present.

Buoyed by improved gross margin and lower costs, Eveready reported net profit of Rs 24.99 crore for the first quarter this fiscal as against Rs 6.91 crore.

Promoter group Khaitan family’s stake in Eveready Industries has slipped below five per cent after Vistra ITCL (India), the largest independent corporate trustee in the country, invoked pledged shares of the dry-cell battery major,

According to a regulatory filing by the company.After Vistra ITCL (India) invoked a total of 17,00,000 equity shares of Eveready Industries, the flagship company of the Williamson Magor Group.

Leave a Reply

Your email address will not be published. Required fields are marked *