.New Delhi: FMCG significant Emami has obtained the remaining 49.60 percent risk in Helios Lifestyle, the parent provider of The Male Company, for Rs 177.63 crore. The board of supervisors of Emami Limited have actually authorized the acquisition of 1,33,572 capital portions of Rs 10 each of Helios Lifestyle coming from its own existing shareholders, working with 49.60 per-cent of the equity reveal capital of Helios, the firm claimed in a BSE submitting. Emami already has a 50.40 percent stake in The Man Business. After getting the equilibrium 49.60 per cent concern, Helios will become a wholly owned subsidiary of Emami.The completion of the acquisition of Helios through Emami will certainly enhance its own presence in the fast-growing digital-first costs guy grooming sector, the company stated." Our experts had taken on the route of strategic assets in new-age startups quite early to take advantage of online possibilities produced by swift digitalization to nurture new motors of growth. These critical financial investments aid us to have footprints in surfacing sections that align with evolving customer inclinations," said Harsha V Agarwal, Vice Leader and also MD, Emami.He added that Emami will definitely continue to check out even more such chances for key financial investment that line up with its existing product line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Male Firm sells costs male grooming items including beard items, skin layer and hair treatment products, air freshener and also perfumes.In FY24, The Guy Company mentioned a turnover of Rs 183 crore up coming from Rs 115 crore in FY23.
Published On Aug 31, 2024 at 09:51 AM IST.
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