Marico rises on inking agreements to acquire up to 58% stake in Satiya Nutraceuticals

Marico is currently trading at Rs. 540.30, up by 7.80 points or 1.46% from its previous closing of Rs. 532.50 on the BSE.

marico inches up on reporting 22 rise in q1 consolidated net profit
Marico

The scrip opened at Rs. 535.10 and has touched a high and low of Rs. 542.55 and Rs. 532.20 respectively. So far 14974 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 559.00 on 01-Jun-2023 and a 52 week low of Rs. 462.95 on 20-Apr-2023.

Last one week high and low of the scrip stood at Rs. 542.55 and Rs. 531.15 respectively. The current market cap of the company is Rs. 70141.94 crore.

The promoters holding in the company stood at 59.42%, while Institutions and Non-Institutions held 35.26% and 5.32% respectively.

Marico has entered into definitive agreements to acquire upto 58% of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, the company which owns the brand ‘The Plant Fix- Plix’- a leading plant-based nutrition brand with a strong presence in the rapidly growing health & wellness segment.

As part of the transaction, the company has acquired 32.75% stake in Satiya Nutraceuticals on a fully diluted basis and requisite majority control over its Board composition/total voting rights on July 26, 2023, and accordingly it has become a subsidiary of the company. The acquisition of remaining stake of 25.25% on a fully diluted basis will be completed in tranches by May 2025, subject to terms and conditions of the definitive agreements.

In line with the company’s key strategic priorities, the transaction will further expand Marico’s total addressable market in the value added foods and nutrition segments as well as presence in the rapidly growing Health & Wellness category.

Marico is one of India’s leading Consumer Products Group, in the global beauty and wellness space. Its products are sold in India and about 25 other countries in Asia and Africa.

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