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Dabur promoters increase stake in Eveready Industries by 8.48%

Dabur's five promoters -- M B Finmart, Puran Associates, V I C Enterprises, Chowdry Associates and Gyan Enterprises -- through portfolio managing firm Guardian Advisors have hiked their stake in Eveready Industries

twitter-logoPTI | July 14, 2020 | Updated 20:50 IST
Dabur promoters increase stake in Eveready Industries by 8.48%
Dabur Products

FMCG major Dabur's promoters have hiked their stake in Eveready Industries by 8.48 per cent by acquiring 61.67 lakh shares in the open market, according to a BSE filing.

Dabur's five promoters -- M B Finmart, Puran Associates, V I C Enterprises, Chowdry Associates and Gyan Enterprises -- through portfolio managing firm Guardian Advisors have hiked their stake in Eveready Industries.

Dabur, in the regulatory filing, "confirmed purchase of 8.48 per cent stake in Eveready Industries" by the promoters.

The transaction was carried out on July 14.

Post the transaction, shareholding of these five entities in Eveready Industries increased from 11.35 per cent to 19.84 per cent.

Last month, Eveready Industries had said coronavirus pandemic will have an impact on its profitability in the short-term and it is engaged in discussions with lenders to infuse additional fund to meet working capital gap and ensure no impact on its operations.

Eveready Industries shares closed 9.96 per cent higher at Rs 88.90 apiece.

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