Emami gains on investment plans

Emami has gained 1% at Rs 456 on reports that the Kolkata-based diversified group would be investing about Rs 2,000 crore in the next two years in the healthcare segment.

Advance Medicare and Research Institute (Amri) Hospitals Ltd, controlled by Emami, is setting up seven hospitals across north and east India, with an investment of Rs 1,750 crore. Another Rs 300 crore would be spent on adding beds at existing hospitals. A senior official at Emami said Amri would raise the needed money through a mix, 70:30, of debt and equity. It is likely to dilute about 20-25% stake to private equity firms.

Aditya Agarwal, director, Emami, said, “We are considering a mix of debt and equity. Though we have not finalised the plans, PE players have shown interest in the company (Amri) and we are also considering those options." However, he refused to disclose the figures.

The scrip opened at Rs 455 and a combined 9,900 shares have changed hands on the BSE and NSE counter till 0926 hours.