Burman family becomes promoter of Eveready

Kolkata: The Burman family, promoter of Dabur India, has finally reclassified itself as the promoter of dry cell battery maker Eveready Industries.
The Burman family becomes the promoter of the city-based company after Puran Associates, VIC Enterprises, MB Finmart, together with Gyan Enterprises and Chowdry Associates — all investment arms of the family — have become the promoters of the company following the completion of the open offer in June.
Following the open offer, Burmans now have a 38.38% stake in Eveready.
Burmans have acquired over 14% shares in the country’s largest dry cell battery maker in the open offer. Mohit Burman had earlier said that it would be classified as promoters in July after the formalities.
“Pursuant to the open offer, Puran Associates, VIC Enterprises, MB Finmart, Gyan Enterprises and Chowdry Associates have become the promoters of the target company (Eveready Industries India) in accordance with the provisions of Sebi (LODR) Regulations,” they informed stock exchanges.
According to sources, Burman family nominees will be joining the company’s board within one week. Three persons from the Burman camp will be joining the board.
Aditya Khaitan and Amritanshu Khaitan had resigned from the board in March this year following the declaration of launching of the open offer by the Burmans of Dabur in a bid to acquire full control of the company. Aditya was the non-executive chairman, while Amritanshu was the managing director. Suvamoy Saha, who was then the joint MD, assumed charge as the new MD.