Marico acquires additional stake of 3.48% in Apcos Naturals; Stock rises

14 Nov 2022 , 11:03 AM

Marico Limited has informed to the exchanges regarding the strategic investment by the Company in Apcos Naturals Private Limited, an entity that owns the brand “Just Herbs”. Earlier, the Company had acquired 56.52% of the equity capital of Apcos Naturals.

As per the terms of the definitive agreements, the Company has now acquired an additional stake of 3.48% of the equity capital of Apcos Naturals, thereby increasing its equity stake to 60%.

Furthermore, according to the regulatory filing, Apcos Naturals being a subsidiary of the Company, the acquisition of additional stake is a related party transaction.

As per the previously agreed pre-money enterprise valuation, Rs9.99 crore for acquisition of additional equity stake of 3.48 in Apcos Naturals is acquired, the company said.

At around 11:06 AM, Marico Ltd is currently trading at Rs503.65 per share up by Rs4.15 or 0.83% from its previous closing of Rs499.50 per share on the BSE.

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