Country's leading skincare & healthcare FMCG major Emami Ltd on Tuesday said that it's wholly owned subsidiary, Emami UK Ltd, has been dissolved as per the provisions of the laws of United Kingdom.
In a filing to the Bombay Stock Exchange, the company informed, "Emami UK Limited, a wholly owned subsidiary of the company, has been dissolved as per the provisions of the laws of United Kingdom."
Emami Ltd stated that the reason behind the UK subsidiary dissolution was having insignificant business operations.
The company manufactures and markets personal and healthcare products in India and internationally. It provides Boroplus Antiseptic Cream, Boroplus Prickly Heat Powder, Boroplus Total Results Moisturizing Lotion, Boroplus Face Wash, Navratna and Navratna Extra Thanda cool oils, Navratna Cool Talc, Zandu Balm, Zandu Balm Ultra Power, Zandu Gel Balm Junior etc.
Meanwhile, shares of the company closed at Rs 1,083 apiece, up 0.84 per cent, from previous close on BSE.