.New Delhi: FMCG major Emami has gotten the continuing to be 49.60 percent risk in Helios Lifestyle, the parent firm of The Man Company, for Rs 177.63 crore. The board of directors of Emami Limited have authorized the acquisition of 1,33,572 equity allotments of Rs 10 each of Helios Lifestyle from its existing investors, exemplifying 49.60 percent of the equity allotment capital of Helios, the company pointed out in a BSE submission. Emami already possesses a 50.40 percent stake in The Male Company. After acquiring the harmony 49.60 per cent stake, Helios will certainly end up being a fully had subsidiary of Emami.The conclusion of the achievement of Helios by Emami will definitely boost its presence in the fast-growing digital-first fee guy cleaning segment, the company stated." Our team had adopted the path of key investments in new-age start-ups incredibly early to make use of online chances produced through rapid digitalization to nurture new engines of development. These critical assets assist us to possess footprints in developing segments that align with developing consumer preferences," claimed Harsha V Agarwal, Bad Habit Chairman as well as MD, Emami.He included that Emami will remain to check out more such opportunities for important investment that align with its own existing series of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and Bhisham Bhateja, The Male Business offers superior male grooming products consisting of beard items, skin and hair treatment items, deodorant as well as perfumes.In FY24, The Male Business mentioned 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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