.New Delhi: FMCG major Emami has obtained the staying 49.60 per cent stake in Helios Way of living, the parent company of The Man Company, for Rs 177.63 crore. The board of directors of Emami Limited have actually permitted the acquisition of 1,33,572 capital portions of Rs 10 each of Helios Way of life from its existing shareholders, working with 49.60 per-cent of the capital reveal resources of Helios, the firm pointed out in a BSE submitting. Emami currently owns a 50.40 percent concern in The Guy Firm. After obtaining the equilibrium 49.60 per cent risk, Helios is going to end up being a completely owned subsidiary of Emami.The completion of the acquisition of Helios by Emami will enhance its own visibility in the fast-growing digital-first costs male cleaning portion, the firm claimed." Our team had actually embraced the course of key investments in new-age startups really early to utilize online possibilities brought about through swift digitalization to breed new engines of development. These strategic financial investments assist us to possess footprints in developing segments that straighten along with advancing individual inclinations," claimed Harsha V Agarwal, Bad Habit Leader and MD, Emami.He incorporated that Emami will definitely remain to discover additional such opportunities for strategic financial investment that align with its existing series of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Man Firm sells costs male grooming products featuring beard items, skin and hair care products, antiperspirant and also perfumes.In FY24, The Man Business reported a turn over 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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