Kolkata, Jul 17 (PTI) FMCG major Emami Ltd on Thursday said it will convert loans and make fresh investments in its associate company, Cannis Lupus Services, as part of its long-term growth strategy.
The Kolkata-headquartered company has executed an agreement to subscribe to Optionally Convertible Debentures (OCDs) issued by Cannis Lupus, which operates in the pet care segment under the brand ‘Fur Ball Story’.
According to a regulatory filing with stock exchanges on Thursday, Emami will convert existing inter-corporate loans of around Rs 8.23 crore into OCDs and infuse an additional Rs 4 crore through fresh subscription to these instruments.
The investment, the company said, aligns with its strategic focus on expanding into complementary wellness and lifestyle categories, though Cannis Lupus operates outside Emami’s core FMCG business.
Cannis Lupus, incorporated in 2019 and based in Gurugram, offers ayurvedic and herbal remedies for pets and is developing a portfolio of medicinal foods, supplements, and other pet care products.
Its turnover stood at Rs 510 lakh in FY25, down from Rs 666 lakh in FY24.
Emami has been gradually diversifying its portfolio in recent years through investments in wellness and healthcare adjacencies, including brands such as The Man Company, Brillare Science, and TruNativ.
Shares of Emami closed at Rs 587.50 apiece on the NSE, up by 1.40 points or 0.24 per cent on Thursday. PTI BSM SBN SBN
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.