Emami Expands Horizons with Cannis Lupus Investment
Emami Ltd is set to augment its growth by converting existing loans into investments in Cannis Lupus Services, a pet care company. The Kolkata-based FMCG giant aims to expand in wellness categories, investing in Optionally Convertible Debentures. Cannis Lupus offers ayurvedic remedies for pets.
- Country:
- India
In a strategic move to broaden its market presence, FMCG leader Emami Ltd announced on Thursday its decision to transform loans into investments in Cannis Lupus Services. This step is part of Emami's long-term growth plan.
The Kolkata-based company has agreed to subscribe to Optionally Convertible Debentures (OCDs) issued by Cannis Lupus, which is known for its 'Fur Ball Story' brand in the pet care industry.
According to a regulatory filing, Emami will convert Rs 8.23 crore of existing inter-corporate loans into OCDs and further inject Rs 4 crore through new subscriptions. This aligns with its strategy of expanding into wellness and lifestyle segments, branching out from its core FMCG pursuits.
(With inputs from agencies.)
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