FMCG major Emami promoters to hive off assets to reduce pledge
Kolkata: Promoters of FMCG major Emami Ltd have said they remain committed to bring down the pledged shares of their holding in the company to zero by hiving-off more group assets, including land parcels. While the promoters hold 53.8 per cent of stake in the FMCG major, 36 per cent of Emami Ltd stake is under pledge.
The promoters of the group had sold cement business to Nirma group at a valuation of Rs 5,500 crore which helped them to reduce the ratio of pledge to around 45 per cent from 89.24 per cent a year back.
The group is also actively scouting for suitors for its hospital business managed under AMRI Hospitals in Kolkata and Bhubaneswar having a total of about 1000 beds.
It also runs a pharma retail chain Frank Ross, besides paper, agro processing and marketing businesses.
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