.New Delhi: FMCG primary Emami has acquired the continuing to be 49.60 percent risk in Helios Way of living, the parent provider of The Guy Business, for Rs 177.63 crore. The board of supervisors of Emami Limited have authorized the acquisition of 1,33,572 equity portions of Rs 10 each of Helios Way of living from its existing shareholders, embodying 49.60 per-cent of the capital portion capital of Helios, the business mentioned in a BSE submission. Emami already has a 50.40 percent concern in The Man Firm. After acquiring the balance 49.60 per-cent risk, Helios will come to be a fully owned subsidiary of Emami.The completion of the achievement of Helios through Emami will boost its own presence in the fast-growing digital-first premium guy grooming sector, the business said." We had actually embraced the route of tactical investments in new-age start-ups very early to take advantage of online possibilities created through quick digitalization to nurture brand new motors of growth. These key expenditures help our team to possess impacts in surfacing sectors that align along with progressing individual inclinations," pointed out Harsha V Agarwal, Bad Habit Leader and MD, Emami.He incorporated that Emami will continue to explore even more such possibilities for key expenditure that line up along with its existing line of businesses.Founded in 2013 by Hitesh Dhingra, Parvesh Bareja as well as Bhisham Bhateja, The Man Company sells costs male grooming items featuring beard products, skin and also hair care products, air freshener and perfumes.In FY24, The Male Provider mentioned a turnover of Rs 183 crore up coming from Rs 115 crore in FY23.
Posted On Aug 31, 2024 at 09:51 AM IST.
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