.New Delhi: FMCG primary Emami has acquired the remaining 49.60 per cent stake in Helios Way of life, the parent company of The Guy Provider, for Rs 177.63 crore. The board of directors of Emami Limited have actually authorized the acquisition of 1,33,572 capital portions of Rs 10 each of Helios Way of life from its own existing shareholders, embodying 49.60 percent of the equity allotment capital of Helios, the business stated in a BSE declaring. Emami presently owns a 50.40 percent stake in The Guy Business. After getting the equilibrium 49.60 percent stake, Helios will end up being a fully possessed subsidiary of Emami.The conclusion of the acquisition of Helios through Emami will certainly strengthen its visibility in the fast-growing digital-first superior male cleaning sector, the company said." Our team had actually taken on the course of important assets in new-age start-ups really early to utilize online opportunities created through quick digitalization to nurture new motors of development. These key expenditures help our company to possess impacts in arising sectors that straighten along with evolving buyer desires," claimed Harsha V Agarwal, Vice Chairman and MD, Emami.He added that Emami will certainly remain to explore more such chances for important investment that line up along with its existing line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Guy Firm markets fee male grooming products featuring beard items, skin and also hair treatment items, antiperspirant as well as perfumes.In FY24, The Man Firm mentioned 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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