Comments
Kolkata, July 12
Eveready Industries India Ltd has appointed Anand Chand Burman, Mohit Burman, and Arjun Lamba as non-executive directors (Additional Directors) effective July 12, subject to shareholder approval. The company has also appointed Sunil Kumar Alagh as an independent director (Additional Director) for a period of five yearsthe company informed the exchanges.
It is to be noted that Burmans, the promoters of Dabur India, had recently become the promoters of Eveready Industries, pursuant to an open offer. The Burman family’s shareholding in Eveready went up to 38.3 per cent as they obtained 14.3 per cent equity through the open offer.
In February this year, the Burmans had announced an open offer for acquiring an additional 26 per cent in Eveready for ₹605 crore. Following that, the Burmans had said they plan to “professionalise” the company and consolidate its market leadership in the dry cell business. Eveready holds nearly 50 per cent share in the Indian dry cell battery segment with about 1.3 billion batteries sold annually.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.