.New Delhi: FMCG significant Emami has actually gotten the staying 49.60 percent risk in Helios Lifestyle, the parent business of The Male Company, for Rs 177.63 crore. The board of directors of Emami Limited have accepted the achievement of 1,33,572 equity portions of Rs 10 each of Helios Lifestyle from its own existing investors, embodying 49.60 per cent of the equity portion funding of Helios, the business said in a BSE filing. Emami already possesses a 50.40 per cent risk in The Male Company. After acquiring the balance 49.60 per-cent risk, Helios is going to come to be a wholly owned subsidiary of Emami.The completion of the acquisition of Helios by Emami will boost its presence in the fast-growing digital-first superior man brushing section, the firm claimed." Our team had actually embraced the route of critical investments in new-age startups really early to leverage online options created through fast digitalization to incubate new motors of development. These key assets assist our team to possess impacts in emerging portions that align along with growing individual preferences," stated Harsha V Agarwal, Bad Habit Leader and MD, Emami.He included that Emami is going to continue to explore more such possibilities for key financial investment that straighten with its own existing series of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja as well as Bhisham Bhateja, The Male Company offers fee male grooming products featuring beard items, skin and hair care items, deodorant and perfumes.In FY24, The Male Company disclosed a turnover of Rs 183 crore up from Rs 115 crore in FY23.
Posted On Aug 31, 2024 at 09:51 AM IST.
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