Burman family may become the sole promoter of Eveready Industries

The Burmans - who have been buying into Eveready since 2019 and became the largest shareholder in July 2020 - have made it clear that their offer is for control

The Burman family – promoters of Dabur India – may become the sole promoter of the country’s largest dry cell battery maker, Eveready Industries India.

Burman Group entities announced the intent to take control of Eveready on February 28 and proposed an open offer for an additional 26 per cent of the company. On completion of the open offer, the Burman family wants to be a promoter.

A letter to the Eveready board from Burman Group entities in February had mentioned, upon the Burman Group acquiring control of Eveready, the Burman Group intends to be a “promoter”.

The Khaitans are