.New Delhi: FMCG major Emami has actually gotten the remaining 49.60 per cent risk in Helios Lifestyle, the parent provider of The Guy Company, for Rs 177.63 crore. The board of directors of Emami Limited have permitted the acquisition of 1,33,572 capital shares of Rs 10 each of Helios Way of life coming from its own existing investors, standing for 49.60 percent of the capital allotment financing of Helios, the provider said in a BSE declaring. Emami currently owns a 50.40 percent risk in The Guy Provider. After obtaining the equilibrium 49.60 per cent stake, Helios is going to become a wholly owned subsidiary of Emami.The fulfillment of the achievement of Helios through Emami are going to enhance its own existence in the fast-growing digital-first premium man grooming portion, the company stated." We had taken on the path of strategic assets in new-age startups quite early to utilize online chances caused through quick digitalization to breed brand new motors of growth. These tactical investments help our company to have footprints in emerging sectors that align along with advancing consumer inclinations," said Harsha V Agarwal, Vice Leader and MD, Emami.He incorporated that Emami will definitely continue to check out even more such chances for critical investment that align with its existing line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Man Provider sells fee male grooming products featuring beard products, skin layer and also hair care products, air freshener as well as perfumes.In FY24, The Guy Business disclosed a turnover of Rs 183 crore up coming from Rs 115 crore in FY23.
Released On Aug 31, 2024 at 09:51 AM IST.
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