The Free Press Journal

FMCG major Emami promoters to hive off assets to reduce pledge

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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% of stake in the FMCG major, 36% 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% from 89.24% a year back.

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