Other Private Equity/Strategic Investments
D2C men's grooming player The Man Company raises Rs.50-Cr from Emami
Gurugram-based, men-focused direct-to-consumer (D2C) grooming brand The Man Company has raised around INR 50 crore in primary capital from publicly-listed Emami Ltd, making it the third investment by the FMCG major in the six-year-old startup. The Man Company will allot 49,665 equity shares to Emami at an issue price of INR 9,617.05 each to raise INR 50 crore, at an estimated enterprise value of INR 255-270 crore. With the fresh infusion that comes after its last investment in 2019, Emami has emerged the largest stakeholder in The Man Company and now controls a 45.96% stake and the collective holdings of its co-founders Hitesh Dhingra, Bhisham Bhateja and Parvesh Kumar have been diluted to 36.5%.
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