The Burmans, who are the promoters of Dabur India, may partner Williamson Magor Group's Khaitan family to run Eveready Industries.
"The Burmans shoring up their holding could pave the way for a partnership between the two families to jointly run the firm," Business Standard quoted a source as saying.
The Burman family will likely be the majority partner, going by the current shareholding pattern, the report added.
Moneycontrol could not independently verify the report.
Eveready is a part of the Williamson Magor group of companies, which also includes tea producer McLeod Russel.
On July 14, Dabur's five promoters-MB Finmart, Puran Associates, VIC Enterprises, Chowdry Associates and Gyan Enterprises-raised their stake in Eveready by 8.48 percent.
The Dabur promoters hiked their stake to 19.84 percent after purchasing 61.67 lakh Eveready shares in the open market.
Following the transaction, the Burmans' holding in the company is higher than that of Eveready's promoters, which is 15.07 percent, Business Standard said.
"We have been buying shares because we believe that the business has a lot of potential and the shares are undervalued. However, there is no plan at the moment of becoming a promoter," Mohit Burman, vice-chairman of Dabur India told the publication.
The deal faces a legal hurdle, as the Delhi High Court has stopped Eveready and McLeod Russel from selling their assets or changing their capital structure.
"We know them (Khaitans). They are still managing the business," Burman said.
"It's unfortunate that their problem is a little bit bigger than Eveready, but as far as I am concerned, we are only interested in this business," he added.
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