Marico Limited ('Company') has entered into definitive agreements to make a strategic investment in Apcos Naturals Private Limited, an entity that owns the brand 'Just Herbs' (hereinafter referred to as 'Apcos Naturals'). Pursuant to the same, the Company had acquired 52.38% of the equity capital of Apcos Naturals, thereby making it a subsidiary.
As per the terms of the aforesaid definitive agreements, the Company has now acquired an additional stake of 4.14% of the equity capital of Apcos Naturals, thereby increasing its equity stake to 56.52%.
Apcos Naturals, a company registered under the Companies Act 2013 in India, is into beauty & personal care segment under the brand name "Just Herbs" and is a full stack Direct to Consumer Ayurvedic beauty brand.
Shares of Marico Limited was last trading in BSE at Rs. 499.35 as compared to the previous close of Rs. 490.85. The total number of shares traded during the day was 37344 in over 1543 trades.
The stock hit an intraday high of Rs. 502.75 and intraday low of 492.55. The net turnover during the day was Rs. 18613849.00.