Batteries and flashlights maker Eveready Industries India Ltd on April 19 said Burman Group has increased its holding in the company to 20.18 percent through acquisition of shares from the open market. Burman Group entities, which include Puran Associates Pvt Ltd, VIC Enterprises Pvt Ltd, MB Finmart Pvt ltd, Gyan Enterprises Ltd and Chowdry Associates, acquired 78,000 shares on April 19 that account for 0.11 percent stake in the company, Eveready Industries India said in a regulatory filing.

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After this acquisition, the holding of the Burman Group has now increased to 20.18 percent from 20.07 percent earlier, it added. In February, the Burman group, through its various entities, had made a Rs 604.76-crore open offer to acquire around 1.89 crore shares of Eveready Industries, representing 26 percent of the expanded voting share capital, at a price of Rs 320 per share, payable in cash.

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The opening of the tendering period of the offer was fixed on April 26 and the date of closure on May 10. The offer was subsequent to the group buying a further 38.22 lakh shares, aggregating 5.26 percent stake in Eveready, through its stock broker JM Financial Services, thereby triggering the open offer for an additional 26 percent stake under SEBI norms.

Earlier, the Burman group, through its entities, held 19.84 percent in Eveready Industries.