.New Delhi: FMCG primary Emami has acquired the staying 49.60 per cent risk in Helios Lifestyle, the parent provider of The Male Company, for Rs 177.63 crore. The board of directors of Emami Limited have permitted the accomplishment of 1,33,572 equity allotments of Rs 10 each of Helios Lifestyle coming from its own existing shareholders, embodying 49.60 per-cent of the capital allotment capital of Helios, the business claimed in a BSE declaring. Emami already possesses a 50.40 percent risk in The Male Firm. After acquiring the balance 49.60 per cent stake, Helios will end up being a totally owned subsidiary of Emami.The completion of the achievement of Helios through Emami will definitely strengthen its own visibility in the fast-growing digital-first costs man grooming sector, the company stated." Our team had taken on the route of calculated assets in new-age startups quite early to leverage online possibilities brought about by swift digitalization to incubate new motors of growth. These tactical financial investments help our team to have footprints in surfacing segments that straighten along with evolving customer tastes," said Harsha V Agarwal, Bad Habit Chairman and MD, Emami.He included that Emami will certainly continue to look into even more such chances for critical financial investment that straighten with its existing line of businesses.Founded in 2013 through Hitesh Dhingra, Parvesh Bareja and Bhisham Bhateja, The Male Company markets fee male grooming products featuring beard products, skin layer and also hair treatment items, deodorant and also perfumes.In FY24, The Male Provider disclosed a turnover 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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