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Emami’s subsidiary has acquired 7.54% stake in the US-based organic personal care firm, Loli Beauty Inc by investing USD 5.65 lakh.
In a regulatory filing the company stated, “Emami International FZE, a wholly owned subsidiary of the company based at Dubai, has made an investment in Loli Beauty Inc., Delaware USA, by subscribing to 12,28,261 series seed prime preferred stock (SSPPS) which will result in stake of 7.54% in the company.”
Further it added that, an investment agreement with the investee company and its existing shareholders has been executed.
