.New Delhi: FMCG major Emami has gotten the remaining 49.60 per cent concern in Helios Way of living, the parent firm of The Man Company, for Rs 177.63 crore. The panel of directors of Emami Limited have actually authorized the acquisition of 1,33,572 equity shares of Rs 10 each of Helios Way of life from its own existing shareholders, representing 49.60 per-cent of the equity share financing of Helios, the firm said in a BSE declaring. Emami actually has a 50.40 per cent risk in The Man Business. After getting the equilibrium 49.60 per cent risk, Helios will definitely become a completely had subsidiary of Emami.The conclusion of the accomplishment of Helios by Emami will strengthen its presence in the fast-growing digital-first premium guy cleaning section, the firm mentioned." Our company had actually used the course of key investments in new-age start-ups very early to take advantage of online chances caused by quick digitalization to breed brand-new motors of development. These strategic investments aid us to have impacts in arising sections that align with evolving consumer preferences," said Harsha V Agarwal, Bad Habit Chairman and MD, Emami.He included that Emami will definitely continue to discover even more such options for strategic investment that straighten along with its own existing series of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Man Company sells costs male grooming items consisting of beard products, skin layer and also hair care items, deodorant as well as perfumes.In FY24, The Guy Firm disclosed a turn over of Rs 183 crore up from Rs 115 crore in FY23.
Released On Aug 31, 2024 at 09:51 AM IST.
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