Emami Limited has made a strategic investment of INR 4.99 crore in its associate company, Cannis Lupus Services India Private Limited. This investment was finalized on August 26, with Emami acquiring 4,348 compulsorily convertible preference shares (CCPS), giving it 100% ownership of the CCPS in Cannis. Emami already holds 47% equity in Cannis, a company known for its Ayurvedic and herbal remedies for pets under the brand Fur Ball Story.
This investment aligns with Emami’s broader strategy to support and expand its business interests in the pet care segment. Cannis, founded by Mr. Animesh Katiyar and Ms. Srishti Sharma, has shown significant growth, with a turnover of INR 666 lakh in the 2023-24 financial year, up from INR 46 lakh in 2022-23 and INR 22 lakh in 2021-22. The company, incorporated in 2019, is based in Gurgaon, Haryana, and focuses on providing services and products for pets, including medicinal food, supplements, and other complementary items.
Emami’s increased stake in Cannis reflects its commitment to tapping into the growing pet care market in India.
