Eveready Industries trades higher as the Burmans' holding crosses 20%

19 Apr 2022 , 11:17 AM

Eveready Industries Limited informed the exchanges that the Burman family’s holding in the company has crossed 20% after the family has purchased the latest round of stocks.

The Burmans utilized the dip in prices and bought 1.65 lakh shares from the open market on April 13 and April 18, representing 0.23% of Eveready’s stock.

Post this acquisition, the Burmans now hold a 20.07% stake in Eveready Industries against their existing shareholding of 19.84%.

This stock acquisition is as per the family’s stated plan to acquire upto 5.26% of Eveready’s voting capital, represented by 38 lakh shares.

The company is also planning to launch an open offer on April 26, 2022, for an additional 26% stake at a price of Rs320 per share, pending SEBI approval.

Eveready Industries is currently trading at Rs321.75 up by Rs1.05 or 0.33% from its previous closing of Rs320.70 on the BSE. The scrip opened at Rs323.20 and has touched intraday high and low of Rs325.50 and Rs320.05 respectively.