Emami Group's promoters has divested 10% stake in Emami, raising approximately Rs 1,600 crore. The transaction was executed on the stock exchange and the purchasers included SBI Mutual Fund, PremjiInvest, Amundi, IDFC, L&T Mutual Fund and others.
The stake sale proceeds will reduce promoter debt which was used in creation of assets like Cement, Solar Power etc. Pursuant to the stake sale, the promoter holding in Emami will stand at 62.74%.
Emami is the flagship company of the Emami Group and engaged in manufacturing products under various categories namely Hair Care, Skin Creams and Lotions, Talcum Powder and ayurvedic health care products.