.New Delhi: FMCG major Emami has acquired the remaining 49.60 per-cent stake in Helios Way of living, the moms and dad business of The Male Company, for Rs 177.63 crore. The panel of directors of Emami Limited have permitted the achievement of 1,33,572 equity allotments of Rs 10 each of Helios Lifestyle from its existing investors, exemplifying 49.60 per-cent of the capital portion financing of Helios, the provider said in a BSE filing. Emami presently owns a 50.40 per cent stake in The Guy Business. After obtaining the equilibrium 49.60 percent stake, Helios will definitely end up being a totally had subsidiary of Emami.The completion of the accomplishment of Helios by Emami are going to enhance its own visibility in the fast-growing digital-first costs male brushing segment, the business said." We had used the option of key financial investments in new-age startups quite early to take advantage of online opportunities generated by rapid digitalization to incubate brand-new motors of development. These tactical financial investments assist us to have impacts in emerging portions that align with growing customer desires," claimed Harsha V Agarwal, Bad Habit Leader and also MD, Emami.He added that Emami will continue to look into even more such options for critical financial investment that line up with its existing line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and Bhisham Bhateja, The Guy Business sells premium male grooming items featuring beard items, skin as well as hair treatment items, antiperspirant and also perfumes.In FY24, The Male Company stated a turnover of Rs 183 crore up from Rs 115 crore in FY23.
Published On Aug 31, 2024 at 09:51 AM IST.
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