“Burman family, who are part of the majority shareholders of Dabur India Ltd, have sold approximately 1 per cent shares through a block deal,” said a regulatory filing by Dabur India.
PTI
December 21, 2022 / 07:30 AM IST
(File image)
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Home-grown FMCG major Dabur India on Tuesday said its promoters the Burman family have sold shares amounting to about 1 per cent stake in the company through the open market to raise funds for financing some ventures.
“Burman family, who are part of the majority shareholders of Dabur India Ltd, have sold approximately 1 per cent shares through a block deal,” said a regulatory filing by Dabur India.
These shares were sold through two holding companies — Gyan Enterprises and Chowdry Associates.
“The purpose of doing this transaction is to raise funds for financing some ventures in the private hands of the Burman family,” it added.
For the quarter ended September 2022, the promoter and promoter group owned 67.24 per cent stake in Dabur India, while the rest 32.76 per cent was with public investors.
Shares of Dabur India, which owns power brands such as Dabur Chyawanprash, Dabur Honey, Dabur PudinHara, Dabur Lal Tail, Dabur Honitus, Dabur Amla, Dabur Red Paste and Réal, settled at Rs 579.85 a piece, down 1.51 per cent from the previous close.
Out of the total paid up equity shares of 177.17 crores, the promoter and promoter groups held 119.12 crore shares as on September 30, 2022.
One per cent of the total shares amount to 1.77 crore shares. Based on Tuesday’s closing price, Burmans may have raised around Rs 1,026 crore.
Earlier in July this year, the Burman family had become a promoter of Eveready Industries by acquiring 38.38 per cent shareholding after the completion of an open offer.
In October, Dabur India entered into the fast-growing spices and seasoning category by acquiring 51 per cent stake in Badshah Masala in a Rs 587.52 crore deal.
Besides Dabur, the Burman family owns other businesses like Aviva Life Insurance Co, Lite Bite Foods, HealthCare atHOME (HCAH) and Burman Hospitality, which is Taco Bell’s master franchise partner in India.
After the pandemic, the Dabur group is on a product offensive and has entered into several new verticals.
Recently, it announced a foray into women’s personal hygiene space with the launch of Fem Ultra Care sanitary napkins.
For the financial year that ended on March 31, 2022, Dabur India’s revenue stood at Rs 8,179.50 crore.
