Emami Group nabs $223.5m from share sale

India trading PA 230 X150
By Christie Ou
19 Feb 2019

The controlling shareholders of India’s Emami Group sold a 10% stake in the company to pay off debt this week.

Emami raised a total of Rp16bn ($223.5m) from the sale, pricing all of the shares at either Rp355 or Rp355.01. It plans to use the proceeds to repay debt that funded cement and solar power operations, the group said on Monday.

SBI Mutual Fund, Premjilnvest, Amundi, IDFC and L&T ...

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