Emami subsidiary invests $5.65 lakh in US FMCG

Top Stories

»	49% Indian startups now from tier 2, 3 cities: Jitendra Singh
»	'India ranks 3rd in global startup ecosystem & number of unicorns'
»	Tripura exported over 9K tonnes of pineapples in 2 years
»	CPI inflation eases to 6.71% in July, IIP falls to 12.3%
»	Rupee depreciates 12 paise to close at 79.64 against US dollar

SME Times News Bureau | 23 Jun, 2018
Emami Ltd on Friday said its Dubai-based wholly owned subsidiary has invested $5.65 lakh in acquiring 7.54 per cent stake in US-based fast moving consumer goods (FMCG) company Loli Beauty Inc.

"Emami International FZE, a wholly owned subsidiary of the company, based at Dubai has made an investment in Loli Beauty Inc., Delaware, US by subscribing to 12,28,261 Series Seed Prime Preferred Stock (SSPPS) which will result in stake of 7.54 per cent in the investee company," it said in a regulatory filing.

The investment agreement with the investee company and its existing shareholders has been executed, it said.

The US-based company deals in natural and organic personal care product with BIY (Blend-lt-Yourself) concept.