.New Delhi: FMCG significant Emami has gotten the remaining 49.60 per cent stake in Helios Lifestyle, the parent company of The Man Firm, for Rs 177.63 crore. The board of supervisors of Emami Limited have actually accepted the accomplishment of 1,33,572 equity reveals of Rs 10 each of Helios Way of living from its own existing investors, embodying 49.60 per-cent of the capital allotment resources of Helios, the firm pointed out in a BSE submission. Emami already possesses a 50.40 per-cent stake in The Male Company. After getting the harmony 49.60 per cent concern, Helios will become a wholly owned subsidiary of Emami.The finalization of the achievement of Helios through Emami will certainly boost its own visibility in the fast-growing digital-first fee male brushing segment, the business said." Our company had taken on the route of tactical investments in new-age start-ups quite early to utilize online opportunities caused through rapid digitalization to breed new engines of development. These important financial investments assist our team to possess impacts in arising segments that line up with evolving consumer inclinations," stated Harsha V Agarwal, Bad Habit Chairman and also MD, Emami.He included that Emami will certainly continue to check out even more such opportunities for important financial investment that straighten along with its existing line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Man Company sells premium male grooming items consisting of beard items, skin layer and hair treatment items, deodorant as well as perfumes.In FY24, The Guy Company 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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