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    Zandu becomes Emami’s fully owned subsidiary

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    major has made a fully owned subsidiary, according to company sources.

    Earlier in October this year, Zandu Pharmaceutical entered into a share purchase agreement with Emami pursuant to which the latter acquired 18.18 per cent equity share capital of the former.

    Post the acquisition of Zandu, Emami is aiming a total turnover of Rs 10-11 billion in the next fiscal.

    Zandu has a total turnover of about Rs 1.6 billion with its flagship brand Zandu balm alone accounting for approximately Rs 1.2 billion.

    —IndiaRetailing Bureau