Kolkata: The promoters of the Kolkata-headquartered diversified Emami Group on Monday divested 10 per cent stakes in BSE-listed Emami, raising nearly Rs 1,600 crore.
The transaction was executed on the stock exchange on Monday and the purchasers included SBI Mutual Fund, PremjiInvest, Amundi, IDFC, L&T Mutual Fund and others. The stake sale proceeds will reduce promoter debt which was used in creation of assets like cement, solar power etc. Pursuant to the stake sale, the promoter holding in Emami Ltd will stand at 62.74 per cent.
Mohan Goenka, director, Emami said, “We have concluded a stake sale which will ease the liquidity position of the promoter group and reduce the debt. We are committed to maintaining our significant majority stake in the company and do not anticipate any further dilution of stake in the foreseeable future.”
Aditya Agarwal, director, Emami Group said, “We are confident about the growth prospects of the Emami Group and we remain steadfast in working towards the best interests of all our stakeholders.”
