Why are the Khaitan family exiting Eveready Industries?

It may be remembered that some time back the Burman family of the Dabur group had bailed out the Khaitan family by helping them retain Eveready. Now Burman family is keen to increase its stake in Eveready by making an open offer to members. As a result, the members of the Khaitan family have now stepped down from the board of Eveready.

Burman family (of Dabur fame) have expressed their intent to take control of Eveready. Way back in 1993, Eveready Industries had come under the wings of Khaitan family when they had bought Union Carbide. However, the Khaitan stake in Eveready is now down to just about 4.84% while Dabur family holds 19.84% stake. Eveready Industries has plans for green EV batteries going ahead.