October 20, 2026 09:14 pm (IST)

Make this your homepage

All Finance

‘Operation completed’: Tiger Shroff shooters allegedly alerted handlers after firing, probe reveals | 'I don't mind saying sorry 1,000 times': Sonu Nigam apologises to Kannadigas over ‘Pahalgam’ remark amid concert ban demand | After Vijay, is Dhanush eyeing politics? TVK calls Thalapathy an inspiration | Trump Says Paris Will Become ‘Muslim City Very Soon’, Blames Macron’s Immigration Policies | Four killed in fresh Manipur violence as protesters take bodies to Chief Minister’s residence | Tiger Shroff firing: Three accused arrested on train in Rajasthan, suspected Bishnoi gang link emerges | 'Internet access a fundamental right for children': SC rejects age-based 'blanket' ban | 'We will fight our own government': RG Kar victim's father threatens fresh protest after Sandip Ghosh gets bail | RG Kar shocker: Sandip Ghosh gets bail as only 7 of 147 witnesses examined, junior doctor blasts CBI | Trump waives Russia-related sanctions

Eicher Motors' promoters sell 4.2 per cent stake in company

India Blooms News Service | | May 13, 2016, at 08:51 pm

Mumbai, May 13 (IBNS) Eicher Motors Limited (EML) -- the flagship company of the Eicher Group in India and a leading players in the Indian automobile industry -- announced in a regulatory filing on Friday that two of its promoters and The Eicher Goodearth Trust have sold their 4.2 per cent stake in the company.

Anita Lal, Rukmani Joshi and The Eicher Goodearth Trust, part of the promoter group of EML, informed the company that they have sold 1,140,846 equity shares in EML, representing 4.2 per cent of EML's equity shares, for an aggregate realization of ~Rs 2,100 crores.

This sale has been done to provide liquidity to the promoters, and the proceeds will be utilized for personal uses, such as portfolio and other investments, and for charitable purposes.

Following the sale, the promoter group will continue to hold 50.67 per cent stake in EML, according to the filing.

In the filing the company also said that the promoters intend to maintain a majority share in EML, and do not plan to sell any further shares in the foreseeable future.

Siddhartha Lal, Managing Director and CEO, Eicher Motors Limited, and also a part of the promoter group, said “EML is a standout success and we are immensely proud of our company's journey so far. We believe there is a huge growth potential for EML in its domestic and overseas markets. We have the right business strategy and management team to deliver our growth aspirations. I am excited to continue to steer EML’s next phase of growth.”

#Eicher Motors # Eicher Motors Limited

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.

India
International

Related Images

In Images: Gautam Adani offers prayers at Kalighat Temple in Kolkata Sep 24, 2026, at 11:48 am

In Images: Amit Shah performs 'Bhoomi Pujan' of Amul's curd manufacturing plant in Kolkata Jul 19, 2026, at 10:57 pm

Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:41 pm