Emami Ltd Invests in Pet Care: Acquires Stake in Cannis Lupus

Emami Limited has subscribed to 4,348 compulsorily convertible preference shares (CCPS) of its associate company, Cannis Lupus Services India Private Limited.

Cannis is an associate company of Emami Limited, making this acquisition a related party transaction. However, none of the promoters, promoter groups, or group companies have any interest in Cannis. The transaction has been conducted on an arm’s length basis. No governmental or regulatory approvals are required for this acquisition.

Purpose of Acquisition

This investment aligns with Emami’s strategic goals and aims to support Cannis’s business needs.

Acquisition Details

• Acquisition cost: Emami Limited has invested ₹4,99,88,956 to acquire 4,348 compulsorily convertible preference shares (CCPS). The acquisition is made through cash consideration.
• Shareholding and Control: Emami Limited now holds 100% of the CCPS in Cannis. Additionally, Emami already owns 47% of Cannis’s equity shares.

About Cannis Lupus Services India Private Limited

Cannis Lupus Services India Private Limited is a private company incorporated on May 1, 2019, under the Companies Act 2013. The company operates in India and specializes in pet care services, focusing on launching medicinal products, food, supplements, and other complementary pet items. Cannis was founded by Mr. Animesh Katiyar and Ms. Srishti Sharma.

About Emami Ltd

Emami Ltd is a leading personal care and healthcare company in India known for its rapid growth. It manufactures and markets personal care and healthcare products, featuring well-known brands like BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Kesh King, Zandu Pancharishta, and Mentho Plus Balm, among others. Founded in 1974, Emami is headquartered in Kolkata, West Bengal. The company offers over 300 products based on Ayurvedic formulations, with operations spanning 60 countries, including regions such as Southeast Asia (SEA), the Middle East, North Africa, Pakistan (MENAP), the South Asian Association for Regional Cooperation (SAARC), Eastern Europe, the Commonwealth of Independent States (CIS), and Africa. In 2022, Emami acquired Dermicool, a leading brand in prickly heat and cooling talc in India.

On August 27, 2024, Emami Ltd’s share price opened at ₹820.80, touching the day’s high of ₹829.80 as of 09:30 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.