The Board of Directors of Dabur India have approved increasing the investment limit for Foreign Institutional Investors (FIIs) from 24 percent to 30 percent of the total paid up capital of the company.
Commenting on the move, P D Narang, Director, Dabur India Ltd Group, said: “Currently, FIIs hold around 21 percent shares of the company, which is likely to exceed 24 percent very shortly. With increased participation by FIIs in the Indian capital market, we have decided to increase the FII investment limit to 30 percent 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 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 is an FMCG company with revenues in excess of Rs 6,170 crore. Its FMCG portfolio currently includes five flagship brands – Dabur as the master brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Réal for fruit juices and beverages, and Fem for fairness bleaches and skin care products.
Dabur presently operates in consumer products categories like Hair Care, Oral Care, Health Care, Skin Care, Home Care, and Foods. It claims to have a wide distribution network, covering over 5.8 million retail outlets in both urban and rural markets.
The company’s products are also available in over 60 countries. According to the company officials, its brands are popular in the Middle East, Africa, SAARC countries, the US, Europe and Russia. Dabur’s overseas revenues account for over 30 percent of the total turnover.