Burman Family pares ~1% stake in Dabur India via a block deal

21 Dec 2022 , 12:50 PM

On Tuesday, the Burman family sold a 1% stake in Dabur India through two of their entities in a block deal. According to an exchange filing, the two promoter group entities that sold the stake are Gyan Enterprises Pvt. Ltd. and Chowdry Associates.

The company made no disclosure on the quantum of shares sold and the price at which the transaction took place. As per the data from BSE block deals, the promoters fetched around Rs 978 crore under this transaction.

Burman family has sold off its stake to raise funds for financing some of its ventures. Reportedly, Burman family is looking to offload stake worth Rs 800 crore via a block deal, which shall be at a 4% discount.

Burman family, altogether, held a 67.23% stake in Dabur India as of September end.
 

At around 10.41 AM, Dabur India was quoted at Rs 579.75, marginally up against previous close of Rs 579.50 on NSE. The counter hit intraday high and low of Rs 586.60 and Rs 578.25 respectively.

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