Marico Ltd acquires balance stake in HW Wellness Solutions Pvt Ltd

Marico Limited ("Company") had earlier made its initial investment in HW Wellness Solutions Private Limited, an entity that owns the brand "True Elements" ("HW Wellness"). Pursuant to the same, the Company previously acquired 53.98% of the paid-up share capital of HW Wellness, thereby making it a subsidiary.

The Company has now entered into a definitive agreement to acquire the balance 46.02% of paid-up share capital of HW Wellness from its Founders and other shareholder(s) as per the terms and conditions agreed thereunder.

HW Wellness Solutions Private Limited, a company incorporated under the Companies Act 1956 in India on December 19, 2013, and headquartered at Pune, Maharashtra, is a leading Digital-first brand in healthy breakfast and snack segment that owns the brand "True Elements".

Shares of Marico Limited was last trading in BSE at Rs. 734.20 as compared to the previous close of Rs. 734.70. The total number of shares traded during the day was 18001 in over 1292 trades.

The stock hit an intraday high of Rs. 739.45 and intraday low of 730.40. The net turnover during the day was Rs. 13224806.00.

Source : Equity Bulls

Keywords

Marico INE196A01026 FMCG BalanceStake Acquisition HMWellnessSolutions TrueElements