{"id":29591,"date":"2022-03-15T21:52:18","date_gmt":"2022-03-15T16:22:18","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-burman-offer-2\/"},"modified":"2022-03-15T22:54:23","modified_gmt":"2022-03-15T17:24:23","slug":"biz-burman-offer-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-burman-offer-2\/","title":{"rendered":"Burman group Rs 604.76-cr open offer for Eveready commences on Apr 26"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1715979036\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Mar 15 (PTI) The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1601626260\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> In a draft letter of offer to the public shareholders of Eveready Industries India Ltd by JM Financial Ltd, the manager of the offer, the date of commencement of the tendering period has been fixed on April 26, 2022 and the date of closure on May 10, 2022.<\/p>\n<p> Last date for upward revision of the offer price and the size of the open offer is April 22, 2022, as per the letter shared on BSE by Eveready Industries.<\/p>\n<p> &#8220;The above timelines are indicative (prepared on the basis of timelines provided under the SEBI (SAST) Regulations) and are subject to receipt of statutory\/regulatory approvals and may have to be revised accordingly,&#8221; it added.<\/p><div class=\"trade-content_5\" id=\"trade-2502375210\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> Earlier this month, the Burman group, through various entities had made a Rs 604.76-crore open offer to acquire around 1.89 crore shares of Eveready Industries, representing 26 per cent of the expanded voting share capital, at a price of Rs 320 per share, payable in cash.<\/p>\n<p> Earlier, the Burman group, through its entities &#8212; Puran Associates Pvt Ltd, VIC Enterprises Pvt Ltd, MB Finmart Pvt ltd, Gyan Enterprises Ltd and Chowdry Associates &#8212; \u00a0held 19.84 per cent in Eveready Industries.<\/p>\n<p> The group bought a further 38.22 lakh shares aggregating 5.26 per cent stake in Eveready Industries, through its stock broker JM Financial Services, thereby triggering the open offer for an additional 26 per cent stake under Sebi norms.<\/p>\n<p> Subsequently, Eveready Industries non-executive Chairman Aditya Khaitan and Managing Director Amritanshu Khaitan have resigned following an open offer from the Burman group. PTI RKL  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-598585786\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 15 (PTI) The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company. In a draft letter of offer [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-29591","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Burman group Rs 604.76-cr open offer for Eveready commences on Apr 26 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-burman-offer-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Burman group Rs 604.76-cr open offer for Eveready commences on Apr 26\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 15 (PTI) The Rs 604.76-crore open offer by the Burman group through various entities to acquire an additional 26 per cent in batteries and flashlights maker Eveready Industries India Ltd is slated to open on April 26, 2022, according to a regulatory filing by the company. 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