.New Delhi: FMCG significant Emami has actually gotten the continuing to be 49.60 per cent concern in Helios Lifestyle, the parent company of The Male Company, for Rs 177.63 crore. The board of directors of Emami Limited have authorized the accomplishment of 1,33,572 equity portions of Rs 10 each of Helios Lifestyle coming from its own existing investors, representing 49.60 per-cent of the equity reveal funds of Helios, the business pointed out in a BSE filing. Emami actually has a 50.40 per cent concern in The Male Company. After obtaining the harmony 49.60 per cent risk, Helios is going to become a wholly owned subsidiary of Emami.The completion of the achievement of Helios through Emami will certainly strengthen its own presence in the fast-growing digital-first premium man cleaning segment, the firm stated." Our experts had adopted the course of calculated financial investments in new-age start-ups incredibly early to take advantage of online options brought about by rapid digitalization to nurture new engines of growth. These critical financial investments help our company to possess footprints in developing segments that align along with advancing consumer desires," said Harsha V Agarwal, Vice Leader as well as MD, Emami.He included that Emami will remain to check out more such possibilities for strategic expenditure that line up with its existing product line of businesses.Founded in 2013 through Hitesh Dhingra, Parvesh Bareja and also Bhisham Bhateja, The Guy Business markets superior male grooming products including beard products, skin layer and also hair care products, deodorant and perfumes.In FY24, The Male 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.
Sign up with the community of 2M+ business experts.Register for our newsletter to obtain most up-to-date understandings & review.
Download And Install ETRetail App.Get Realtime updates.Spare your much-loved write-ups.
Check to download and install Application.