The Burman Family, the promoters of FMCG major, Dabur India Ltd, offloaded about 1 per cent stake in the company. The company in a regulatory filing said that the promoters sold it through a block deal on Tuesday. The purpose of the transaction by the promoter family was to raise funds
The Burman family sold the stake through its two entitues, Gyan Enterprises Pvt Ltd and Chowdry Associates.
Two entities
“Following entities of Burman family, who are part of majority shareholders of Dabur India , have sold approximately 1 per cent shares of Gyan Enterprises Pvt Ltd and Chowdry Associates through a block deal which was completed today, that is on 20th December 2022, ,” the company said in a regulatory filing.
To raise funds
“The purpose of this transaction is to raise funds for financing some ventures held privately by the Burman family,” the regulatory filing added.
The company however did not disclose the quantum of shares sold or the price at which the block deal was completed. As of September, the Burman family held 67.24 per cent stake in Dabur India.
In October, Dabur India had acquired 51 per cent stake in Badshah Masala for ₹587.52 crore marking its entry into the spices and seasonings business.