Dabur board approves raising FII limit to 30%
25 November 2013
The board of directors of Dabur India Ltd has approved increasing the investment limit for foreign institutional investors (FIIs) from 24 per cent to 30 per cent of the total paid-up capital of the company.
"Currently, FIIs hold around 21 per cent shares of the company, which is likely to exceed 24 per cent very shortly. With increased participation by FIIs in the Indian capital market, we have decided to increase the FII investment limit to 30 per cent 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 P D Narang said on Friday.
Dabur India Ltd would now be seeking shareholders' approval for the FII limit hike through a postal ballot in accordance with Section 192A of the Companies Act, 1956.
Dabur India is one of the leading FMCG (fast moving consumer goods) companies in India with revenues in excess of Rs6,170 crore. Its portfolio includes five flagship brands with distinct brand identities.
Established in 1884, Dabur India Limited is amongst the leading FMCG companies in India and, with a legacy of quality and experience, Dabur is today India's most trusted name and the world's largest ayurvedic and natural health care company.
Dabur's FMCG portfolio 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.
The company operates in key consumer product 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.
The company's products also have a huge presence in the overseas markets and are available in over 60 countries across the globe. Dabur's overseas revenues account for over 30 per cent of the total turnover.
Its brands are highly popular in the Middle East, Africa, SAARC countries, the US, Europe and Russia.