The promoters of Emami Group have undertaken a stake sale 10% in Emami for raising approximately Rs 1,230 crore. This amount is intended to be used primarily for further reducing debt at the promoter level. The stake sale occurred on the floor of the stock exchange to marquee institutional investors.
The total promoter stake in Emami subsequent to the stake sale, stands at a controlling majority of 52.74%. The promoters intend to maintain this controlling majority stake in Emami without further diluting it.
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.
