Dabur Board approves increasing FII limit to 30%
Friday, November 22, 2013
New Delhi, November 22nd, 2013: The Board of Directors of Dabur India Ltd today approved increasing the investment limit for Foreign Institutional Investors (FIIs) from 24% to 30% of the total paid up capital of the company.
"Currently, FIIs hold around 21% shares of the company, which is likely to exceed 24% very shortly. With increased participation by FIIs in the Indian capital market, we have decided to increase the FII investment limit to 30% for investment in company's capital under the Portfolio Investment Scheme (PIS). The Board of Directors, through a postal ballot, today approved the proposal," Dabur India Ltd Group Director Mr. P D Narang said.
Dabur India Ltd would now be seeking its shareholders' approval for the FII limit hike through a Postal Ballot in accordance with Section 192A of the Companies Act, 1956.
Established in 1884, Dabur India Limited is amongst the leading FMCG Companies in India with Revenues in excess of Rs 6,170 Crore. Building on a legacy of quality and experience of over 129 years, Dabur is today India's most trusted name and the world's largest Ayurvedic and Natural Health Care Company. Dabur's FMCG portfolio today includes five flagship brands with distinct brand identities -- Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Real for fruit juices and beverages and Fem for fairness bleaches and skin care products.
Dabur today operates in key consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care and Foods. The company has a wide distribution network, covering over 5.8 million retail outlets with a high penetration in both urban and rural markets.
Dabur's products also have a huge presence in the overseas markets and are today available in over 60 countries across the globe. Its brands are highly popular in the Middle East, Africa, SAARC countries, the US, Europe and Russia. Dabur's overseas revenues account for over 30% of the total turnover.
For Details :
Mr. Byas Anand Corporate Communications Dabur India Limited PH:- 95120-3982000, 3001000 extn 2101/2547 Fax: 95120-4374935 Email:email@example.com