Dabur India Ltd on Tuesday said that the open offer by the Burman family to buy 26 percent additional stake in Eveready Industries is an investment in their personal capacity.

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Dabur said the open offer has no impact on the company, adding that the family has been investing in their personal capacity in ventures outside of Dabur.

The Burman family on Monday had informed stock exchanges that it made an open offer for an additional 26 percent stake in Eveready Industries Ltd, which is now controlled by Khaitan Group.

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"We have been monitoring the situation of the company and felt that now is an appropriate time to step in. The company needs direction and the brand has immense potential. We feel we will be able to add value and take this business to the next level," Mohit Burman said.

Eveready was struggling with high debt for the last few years and has been trying to monetise some of its assets. Recently, the battery maker has also hived off its loss-making tea operations and sold its surplus land in Chennai and Hyderabad to reduce debt.

Eveready Industries India share price ended 10.08 percent higher on Monday at close, quoting at Rs 375 apiece.

(Edited by : Priyanka Deshpande)

First Published:Mar 1, 2022 2:18 PM IST