The Burman family plans to induct nominee directors on the board of dry cell battery maker Eveready Industries India Ltd by July, take control of the company and identify itself as the promoter group.

In an email interview with The Telegraph a day after the open offer from the Burman family closed, Mohit Burman, who led the family’s foray in Eveready, said onboarding the directors would take place after July 5. The company would pay off the shareholders who subscribed to the offer by July 5.

The Burmans, who are the promoters of FMCG major Dabur India Ltd, had obtained 14.3 per cent equity of Eveready through the open offer. Following the closure of the offer on Thursday, the family holds 38.3 per cent in India’s largest dry cell battery and flashlight company.

“Now that the open offer has closed, we will look to onboard our directors, post the pay- out to investors and transfer of shares. This exercise is expected to be completed by the 5th of July. We would be classified as promoters automatically in the next shareholder filing, post July,” Burman said.

The Burmans had sought three board berths in a letter to the Eveready board earlier this year and also appoint a chairman. All the directors would be non-executive, in line with the Burman family’s hands-off corporate philosophy, where promoters take the back seat leaving the management to professionals.

He declined to name the nominees though as yet. “The names of our nominee directors will be disclosed closer to the time and will be intimated to the company first,” he said, adding that the board seats would be taken post pay out to the shareholders.

The Khaitans of Williamson Magor Group are now the promoters of the company with a 4.9 per cent stake. They continue to remain invested in the company despite the impending change.

Mohit Burman, who is now the vice-chairman in Dabur, also flagged the concern that Eveready’s topline has not grown in some years, and mentioned it would be a priority to scale up revenue.