Emami Acquires Full Stake in Brillare Science Pvt Ltd, Bolsters Beauty Care Portfolio

28 Mar 2024 , 03:01 PM

Emami Ltd announced its decision to acquire the remaining 4.64% stake in its subsidiary, Brillare Science Pvt Ltd, on Wednesday, March 27.

The company disclosed in a stock exchange filing that it currently holds 95.36% of Brillare’s paid-up capital and has entered into a Share Purchase Agreement with the founder and other shareholders to acquire the remaining stake.

Following the acquisition, Emami’s shareholding in Brillare will increase from 95.36% to 100%, making Brillare a wholly-owned subsidiary of Emami Limited.

Brillare Science Pvt Ltd is engaged in professional beauty care products, offering a range of skin, hair, and body care items. Its brands, Brillare and Root Deep, are popular among consumers and salon professionals.

Financial details of the acquisition, including share prices, remain undisclosed. Emami clarified that Brillare is a subsidiary and a related party, with no involvement from the promoter, promoter group, or affiliated companies.

Emami Ltd’s shares closed at ₹433.40 on the NSE, reflecting a gain of 0.88%.

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