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FII limit: Eveready to seek shareholder nod

KOLKATA: The board of Eveready Industries India on Tuesday decided to seek shareholder approval for increasing the limit of FII holding in the company to 49 per cent from 23 per cent. The Vice-Chairman and Managing Director, Deepak Khaitan, said this would be done subject to statutory approvals and without diluting the promoters' holding of 42.1 per cent. At present, financial institutions and banks hold 6.3 per cent, mutual funds 1.8 per cent, FIIs 23 per cent, and the public 26.8 per cent. Goldman Sachs, HSBC and Merrill Lynch are some of the FIIs having a stake.

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