Promoters of Emami Group sell 10% stake in Emami to raise Rs 1230 cr
The promoters of Emami Group have undertaken a stake sale 10%
in Emami for raising approximately Rs 1230 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.
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First Published: Jun 24 2019 | 5:30 PM IST