Content-to-commerce platform The Good Glamm Group, which had acquired a 75% stake in direct-to-consumer (D2C) mother-and baby care brand The Moms Co two years back, has increased the stake to 90%, a media report said.
Good Glamm bought the additional stake from the founders of The Moms Co, The Economic Times reported. The founders, Malika Sadani and Mohit Sadani, have the option to sell their remaining 10% stake over the next one year, it said.
Good Glamm had taken control of The Moms Co in 2021 with a Rs 500-crore deal, marking its largest acquisition till date.
Good Glamm became a unicorn in November 2021 after it raised $150 million in a Series D funding round co-led by Prosus Ventures and Warburg Pincus.
The deal valued the firm at $1.2 billion. In May last year, VCCircle reported https://www.vccircle.com/good-glamm-group-in-talks-to-close-250-mn-funding-round-at-2-bn-valn that the company was looking to raise fresh capital at a valuation of $2 billion.
Vedanta
Billionaire Anil Agarwal-led Vedanta group is looking to buy an additional 6% stake in its subsidiary Hindustan Zinc, as and when the government sells its holding, Business Standard reported, citing sources. Vedanta currently owns 64.9% of Hindustan Zinc.
The additional stake will cost Vedanta around Rs 7,900 crore, the report said. Vedanta is looking to raise about $1 billion (Rs 8,180 crore) from three foreign banks to fund the acquisition, the report said.
The government owns 29.5% of Hindustan Zinc. It is planning to sell a 15% stake in the company via an offer for sale by March-end, the report said, adding that the government will lose its special rights over the company if and when it sells the stake.