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Burman Family
LeagueBusiness Family
Net Worth$9.2 billion (As of October 10, 2020)
Burman Family's Assets:
Burman Family's Journey so far ...
Before you go ...
Burman Family's Journey so far ...
- The Burman family is known for their company Dabur, which has been controlled by the family since six generations
- In 1884, a doctor named S.K. Burman who made natural medicines for curing diseases like cholera, malaria and plague formed a company called Dabur
- The motive behind the venture was to provide effective medicines to people in remote villages at an affordable cost
- Burman set up a manufacturing plant in 1896 to produce his medicines in bulk
- The company entered the ayurvedic medicines sector in the early 1900s and in 1919, S.K. Burman's son C.L. Burman established the company’s first R&D centre
- With two new manufacturing units, Dabur expanded its reach to Bihar and the Northeast in 1920
- The company was formally incorporated as Dabur India (Dr. S.K. Burman) Pvt. Ltd. in 1936
- C.L. Burman’s sons P.C. Burman and R.C. Burman soon joined the business
- In 1940, the company forayed into the personal care market with the launch of Dabur Amla hair oil which soon became the largest selling hair oil in India
- Dabur Chyawanprash — which was the first branded Chawanprash in India — was launched in 1949
- Starting a family tradition, the male members of the fourth generation of the family started attending boarding school in Darjeeling and moving to the United States for higher studies
- It was the fourth generation of the family that emphasised on advertising. From TV ads to raining pamphlets from their Beechcraft aircraft to banners on elephants, they did it all
- They entered the oral care business with the launch of Dabur Lal Dant Manjan in 1970
- In 1972, the company moved its base from Kolkata to Delhi with a manufacturing plant set up nearby
- From the fifth generation, Anand Burman joined the company in 1980 and pioneered the formulation of anti-cancer drugs
- In 1986, Dabur India Ltd. was formed after a reverse merger and subsequently, the company became a public limited company
- After the launch of Hajmola digestive tablets in 1978, Hajmola candy was launched in 1989
- Forming their first international alliance, Dabur partnered with the Spanish firm Agrolimen in 1992 to manufacture and market confectionery in India
- Dabur introduced its IPO in 1994, which was subscribed 21 times despite its high premium
- Another member of the fifth generation, Amit Burman, was responsible for the formation of the Real fruit juices brand in 1996
- In 1996, the company was segregated into three divisions — health care products, family products and Dabur Ayurvedic Specialities Limited
- In 1998, the first non-family CEO was given the charge to run the company
- Dabur’s turnover crossed the Rs 1,000 crore mark in 2000
- As their first international acquisition, Dabur bought the Turkey-based personal care brand Hobi Kozmetik Group in 2010
- The company’s turnover reached the $1 billion mark in 2012
- Today, Dabur India Ltd. has a market cap of over Rs 80,000 crore and offers products in sectors ranging from hair & skin care to packaged foods. The Burman family holds around 68% shares of the company
- Currently, Amit Burman and Mohit Burman from the fifth generation of the family serve as chairman and vice-chairman, respectively, of Dabur India Ltd.
Before you go ...
- The term Dabur is a result of the amalgamation of the terms Daktar — what people used to refer to Dr S.K. Burman as — and Burman — his last name
Last Updated: 28/07/2021
Burman Family News
Sebi orders Religare to apply for open offer before July 12Sebi directs Religare Enterprises to obtain approvals from all regulators by July 12 for Burman family's open offer to buy more shares. The regulator's order challenges Religare's management, led by Rashmi Saluja, who opposes the Burmans' bid to increase their stake in the company.
Rashmi Saluja & Religare board have been trampling securities law in India: Shriram SubramanianRashmi Saluja and the other directors have been saying that the Burmans are not fit and proper, but they have not furnished any documentary evidence and this is made out even in the SEBI order. All these are frustrating, not just for the company, the interest of the shareholders and also frustrating securities law and the regulator itself, says Shriram Subramanian.
ED seeks details of police probe in Religare 'cheating case'The Enforcement Directorate (ED) has reportedly sought details from the Mumbai police regarding its investigation into a cheating case related to the attempted acquisition of Religare Enterprises by the Burman family. The ED is likely to register a money laundering case in connection with this matter. The case, filed by shareholder Vaibhav Gawli, named Dabur group chairman Mohit Burman, his family members, and former REL promoters Malvinder and Shivinder Singh among the accused. JM Financial, the manager of the Burmans' open offer, is also implicated. The Burman family has denied any wrongdoing, stating that the allegations are baseless.
Sebi asks Religare to file Burmans’ open offer planSebi directs Religare to apply with open offer proposal by Burman family to purchase additional 26% stake from public shareholders.
Religare Board Seat Offered to Ex-Dabur Chairman Many Times, says chairperson Rashmi SalujaRashmi Saluja, a doctor by training, who joined Religare as an independent director in 2018 and became its chairperson next year, said that "Anand Burman along with Arjun Lamba met me but never discussed the open offer (proposal for the financial services company's shareholders). If they had any intention of informing me then they should have done it with a proper protocol by writing to the board."
Dabur's Burmans fire fresh salvo at Religare's SalujaThis is the second time the Burman family, the largest shareholders of Religare, has accused Saluja of insider trading violations. In September, the Burmans accused Saluja of insider trading ahead of the open offer announcement.
Religare moves HC over Sebi 'inaction'Religare has asked the court to direct Sebi to conduct a forensic audit to unearth the facts behind the grievances raised by it and to submit to the court a detailed report on the actions taken by the capital markets regulator.
NCLAT dismisses Religare's appeal against CCI nodNCLAT rejected REL's appeal regarding Burman's share acquisition. CCI ensures fair competition. Justice Khanna and Mehrotra maintained status quo. Fraud allegations, ESOP issuance, remuneration without approval are under scrutiny.
Won't back down, says Religare's Rashmi Saluja amid tiff with Burman family"I may have agreed that five years ago, I didn't have the experience, but after five years, three successful businesses, a company turnaround and a great team and board to support me, I will not back down," Saluja told ET in an interview. "Any allegations of corporate governance against the board and the management are directly reflected toward the regulators. Our naysayers need to understand that."
When we are double the size of our turnover today, flashlights and lighting should be more than 50%: Eveready Industries MDSuvamoy Saha of Eveready Industries anticipates rapid growth from the lighting and electrical segment. The company aims to double its turnover in the next few years, focusing on premium products and market regulations for continued success.
Religare chief Saluja sells 2 million shares in open marketAs per the disclosure on NSE on April 2, Saluja sold 6.18 lakh shares on March 26, 6.70 lakh shares on March 27, and 7.21 lakh shares on March 28. Following the transaction, Saluja’s holding in REL is reduced to 0.81% from 1.23%.
'No occasion' to approach regulators: ReligareThe firm said in its communication to the Securities and Exchange Board of India (Sebi), Reserve Bank of India, and the Insurance Regulatory and Development Authority of India (IRDAI), that it would proceed with seeking their approval after the regulators give their decisions on the alleged violations by the Burmans.
Burmans write to RBI, asks central bank to intervene on open offer as Religare takeover tussle intensifiesREL led by chairperson Rashmi Saluja has sought to obstruct the applications that need to be sent to the regulators for changes in shareholding, control and management of REL, said the letter by the Burmans, promoters of the Dabur Group. The action by the REL management “impedes the ability of regulatory authorities to perform their obligations,” the Burmans said in the letter, a copy of which ET has seen. “It also costs the public shareholders of Religare.”
Burman family buys 3.6% stake in Religare Enterprises for Rs 277 croreDabur India promoter Burman family on Wednesday bought a 3.6 per cent stake in diversified financial services group Religare Enterprises for Rs 277 crore through open market transactions.
Burman family hikes Religare stake to over 25%, increases grip on companyThe Burman family has consolidated their position in Religare Enterprises Limited (REL) by increasing their stake by around 4% through open market purchases. Their cumulative stake now stands at 25.1%. The stake hike was done at an average price below Rs 235/share, which is the open offer price.
Religare hits out against Dabur's Burmans as takeover battle gets murkierReligare Enterprises has strongly responded to the Burman family's call for an investigation into the alleged allotment of an 8% share of Religare Finvest to REL Chairman Rashmi Saluja. Denying the claims, Religare Enterprises stated that the information shared by the Burmans is misleading. The company emphasized that such misinformation impacts shareholder value.
Religare Ent says arm didn't issue shares to chairperson Rashmi Saluja, no norms floutedReligare Enterprises has clarified that it has not violated rules on issuance of securities to key managerial personnel, as its non-bank lending arm, Religare Finvest, did not issue any shares to its chairperson, Rashmi Saluja. The company stated that the proposal of granting 21.4 million stock options to Saluja was approved by shareholders but not acted upon.
Religare Enterprises denies issuing 8% stake of Religare Finvest to Chairman Rashmi Saluja"Subsequent to the passing of enabling special resolution by the shareholders of RFL with respect to 'Item No 5', RFL has not placed any proposal with NRC till date for grant of above mentioned ESOPs to CMD. Since no new shares were issued/allotted in the matter, there is no contravention of the Reg 26 (6) of the SEBI Takeover Regulations," the company said in a statement.
Rashmi Saluja's acquisition in REL via ESOPs requires investigation: Burman familyThe Burman family has accused Rashmi Saluja of acquiring a significant amount of remuneration through Employee Stock Ownership Plans (ESOPs) at Religare Enterprises Limited (REL), Care Health Insurance Limited, and RFL without approval and disclosure to shareholders. The Burman family has called for an investigation into compliance with SEBI Takeover Regulations and questioned the management and independence of independent directors.
Religare Finvest issued Esops to Rashmi Saluja a day after Burmans' open offerThe award in the unlisted subsidiary ascribed its value in a band of Rs150-260 crore. Previously, proxy advisory firm InGovern had estimated the Esops awarded to Saluja in Religare Enterprises as well as its health insurance subsidiary Care Health Insurance to be worth Rs480 crore.
Sebi probes Burmans' Religare offer, seeks 'details, sequence of events' after open offer sparked tiffIn a December 20 letter reviewed by ET, Sebi asked Religare for "complete details and sequence of events, starting from the time of first discussion regarding the open offer transaction till the stock exchange announcement dated September 25, 2023."
Burmans yet to designate their representative on REL boardBurman's family had, through various entities, accumulated a 21.5% stake in REL by August. In September, it bought another 5.27% stake, triggering a mandatory open offer to buy an extra 26% stake from the public. The open offer was made at ₹235 on September 25, when the prevailing stock price was ₹256.
Board versus Burmans: Where is Religare's tussle with its biggest shareholder headed?The board has no shareholder representation. It has six members including Chairperson Rashmi Saluja who has an executive role. All the other members are retired civil servants except Hamid Ahmed, who is the CEO of Hamdard Laboratories and chancellor of Jamia Hamdard University.
Amid allegations of securities law violations, Religare board backs chairperson Rashmi SalujaThe board praised Saluja's contributions in making Religare a debt-free organization in a period of five years and boosting its market capitalization to about a billion dollars from $100 million in 2018. The Burman family had alleged that Saluja violated Sebi rules as she sold Religare shares after being informed of an open offer for the public shareholders of the company by their representative.
Police report linking family to app case attempt to block Religare deal: Burmans"Curiously, the first information report (FIR) comes at a time when the Burman family has sought to increase its existing shareholding of 21.24% in Religare Enterprises and launched a legitimate open offer under the Sebi takeover code," the Burman family said in a statement Tuesday.
Religare asks police to probe allegations linked to previous leadershipReligare Enterprises, an Indian financial services company, has requested the police to initiate a new investigation into alleged fund misappropriation and business dealings that occurred under its previous leadership. This request comes after the Burman family, founders of consumer goods conglomerate Dabur, announced plans to raise their stake in Religare.
Burman family announces Rs 2,116 crore open offer for 26% stake in Religare EnterprisesMB Finmart, Puran Associates, VIC Enterprises and Milky Investment & Trading Company are the entities that will participate in the open offer to acquire up to 90,042,541 fully paid-up equity shares from the public shareholders of Religare Enterprises at a price of Rs 235 per equity share. The open offer price is at a 17% discount from Friday's closing price of Rs 275 on NSE.
Burman family is a 'long-term investor' in Religare: Mohit BurmanThree Burman Family entities -- Puran Associates, Vic Enterprises and M B Finmart -- acquired a 7.5 per cent stake in Religare Enterprises for Rs 534 crore through open market transactions. According to the block deal data available with BSE, Puran Associates, Vic Enterprises, and M B Finmart purchased a total of 2.45 crore shares, amounting to a 7.5 per cent stake in Religare Enterprises.
Religare Enterprises jumps 10% to 52-week high on reports of Burman family increasing stakeThe Burman family, which owns a controlling stake in FMCG major Dabur, already owns more than 14% stake in Religare Enterprises through various entities. The news was reported by ETNow.
OTS complete, Religare Finvest looks to expand businessIn December, creditors to RFL approved settling of their Rs 5344 crore dues to more than a dozen lenders, with an immediate payment of Rs 2320 crore, a 57% haircut. A majority of the settlement has been paid from loan recoveries of the company. Saluja said higher recoveries meant that shareholders of the parent Religare Enterprises Ltd (REL) had to infuse Rs 220 crore which was lower than the Rs 400 crore envisaged in the initial OTS plan.
Dabur weighs acquisitions to expand across India, Southeast AsiaOn the back of its $71 million purchase of spice producer Badshah Masala Pvt Ltd. in October, the 139-year-old firm, which sells traditional Ayurvedic medicine and herbal products including toothpaste and shampoo, is evaluating other targets in health, food and personal care in those markets, Chief Executive Officer Mohit Malhotra said.
Who is Radhika Merchant? All about Mukesh Ambani, Nita Ambani’s youngest daughter-in-lawRadhika Merchant is a businesswoman and the daughter of Encore Healthcare CEO Viren Merchant. Radhika was spotted attending the marriages of Isha Ambani and Anand Piramal, as well as Akash Ambani and Shloka Mehta.
Eveready back on investor radar driven by improved growth prospectsThe latest sale of 1% stake by the Burman family in Dabur, which fetched around Rs 1,000 crore, is viewed as a step towards increasing holding in Eveready to over 50% from 43%, which may also result in reducing debt
Eveready back on investor radar driven by improved growth prospectsThe latest sale of 1% stake by the Burman family in Dabur, which fetched around Rs 1,000 crore, is viewed as a step towards increasing holding in Eveready to over 50% from 43%, which may also result in reducing debt
Burman family sells 1% stake in Dabur India via block dealGyan Enterprises Pvt Ltd and Chowdry Associates are the two promoter group entities that sold the stake, the company said in an exchange filing.
Burmans eyeing Rs 800-crore stake sale in Dabur via block deal: ReportsThe promoters will offer up to 4% discount from the current market price for the stake in the fast moving consumer goods major
Eveready Industries Q1 net profit down 27.5 pc to Rs 21.85 crBattery and flashlights maker Eveready Industries India Ltd on Monday reported a decline of 27.48 per cent in its consolidated net profit at Rs 21.85 crore for the quarter ended June 30, 2022. The company had posted a net profit of Rs 30.13 crore in the April-June period a year ago, Eveready Industries said in a regulatory filing.
Hope to provide fresh impetus to Eveready: Mohit Burman"As a family, we like to invest in consumer centric businesses," Burman told ET in an email interview, elaborating on why the group, with interests across packaged goods, restaurant chains and financial services, is investing in batteries. The buy is a "personal investment of the Burman family", he added.
HCAH to invest up to Rs 300 crore in subsidiary to add 1,500 transition care beds in next 3 yearsHCAH was started in 2012 by Vivek Srivastava and is backed by the Burman family, founders of Healthcare at Home UK and Quadria Capital. HCAH had acquired transition care firm SuVitas Holistic Healthcare in August this year.
We are gearing up for Religare 2.0: Rashmi Saluja“We are positive that the Religare restructuring process will go through .”
Burman family picks up 8.8% stake in EvereadyA company spokesperson confirmed the block deal.
IHH, Manipal-TPG final suitors for Fortis as Munjal-Burmans, Radiant-KKR back outThe Fortis board was reconstituted late in May after a group of minority shareholders objected to the way the bidding process was conducted.
Fortis extends deadline for binding offers following announcement of Q4 and FY18 resultsThe healthcare group was earlier expecting these offers by June 28 but has pushed the deadline after it delayed the announcement of its financial results for the fourth quarter and year ended March 31, 2018.
Race for Fortis: Hero's SK Munjal and Dabur's Burmans revise bid, offer Rs 1,800 crore to sweeten dealIncluding the warrant subscription amount, their upfront investment would be Rs 1,050 crore. The offer is valid until May 15.
Munjal-Burmans bat for level playing field in Fortis biddingFortis Healthcare yesterday said its board will meet on May 10 to take a decision on the binding bids for the company as recommended by the expert advisory committee (EAC).
Burman family of Dabur Group enter realty buisness in London, MiamiFor its second project in London, the company has acquired an old movie studio on Cabul Road, which is close to its first project location.
Burman family of Dabur enter realty business in London, MiamiThe Burman family, the promoters of the Dabur Group, has forayed into real estate development in London and Miami through Elephant London, a company floated for the purpose.
Can 'Getting Future Ready' strategy reposition Dabur's 130-year old brand imageThe move, says Sunil Duggal, CEO of the Rs 7,800-cr Burman family owned firm, gives a clear focus to the organisation in terms of future M&A, innovation and growth.
Dabur promoter Burmans enter healthcare, partner UK firmThe promoter of FMCG major Dabur India, the Burman family is foraying into healthcare space in the country.
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