.New Delhi: FMCG major Emami has actually acquired the staying 49.60 per cent risk in Helios Way of life, the parent company of The Guy Company, for Rs 177.63 crore. The board of supervisors of Emami Limited have actually approved the acquisition of 1,33,572 capital shares of Rs 10 each of Helios Way of life coming from its existing shareholders, working with 49.60 per cent of the equity allotment capital of Helios, the business stated in a BSE submitting. Emami currently possesses a 50.40 per-cent risk in The Guy Company. After acquiring the harmony 49.60 per-cent concern, Helios will definitely come to be a totally owned subsidiary of Emami.The completion of the accomplishment of Helios through Emami will strengthen its own presence in the fast-growing digital-first fee man grooming portion, the firm said." Our company had taken on the route of important assets in new-age startups very early to make use of online options resulted in by swift digitalization to breed brand-new engines of growth. These important expenditures help us to possess footprints in emerging sectors that straighten with developing customer preferences," mentioned Harsha V Agarwal, Vice Leader and also MD, Emami.He added that Emami will certainly remain to check out even more such opportunities for critical assets that align with its own existing product line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Guy Company sells superior male grooming items including beard products, skin and hair care products, air freshener and perfumes.In FY24, The Guy Business stated 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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