Emami completes 59.69% stake acquisition in IncNut Digital

Emami Limited completed the acquisition of a 59.69% stake in IncNut Digital Private Limited on June 1, 2026. The company purchased 2,05,767 equity shares, resulting in IncNut becoming a subsidiary. The remaining 0.31% stake, comprising 1,064 equity shares, will be acquired in accordance with the terms of the Share Subscription and Purchase Agreement.

Transaction Details

The acquisition was executed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The initial disclosure regarding the transaction was submitted to the exchanges on May 7, 2026. The regulatory details were submitted in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The information is also available on Emami's website.

Shareholding Breakdown

The following table summarises the key details of the stake acquisition:

Description:	Value
Stake Acquired:	59.69%
Shares Purchased:	2,05,767 equity shares
Remaining Stake:	0.31%
Remaining Shares:	1,064 equity shares

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.62%	+4.09%	-6.49%	-21.66%	-27.79%	-23.43%

Promoter entities of Emami Limited have pledged additional shares with lenders, increasing the total encumbered holding within the promoter group. Diwakar Finvest Private Limited and Suraj Finvest Pvt Ltd executed the pledges between May 25 and May 27, 2026, as per a disclosure submitted to the stock exchanges on May 29, 2026.

The disclosures were made in compliance with Regulation 31(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Santinath Paul, the authorized signatory for Diwakar Finvest Private Limited, confirmed the transactions on behalf of the promoters and persons acting in concert.

Details of Share Pledges

Diwakar Finvest Private Limited undertook two separate pledging events. On May 25, 2026, the entity pledged 12,00,000 shares, representing 0.27% of the total share capital, to Bajaj Finance Limited. Subsequently, on May 27, 2026, it pledged 1,50,000 shares, or 0.03% of the total share capital, to HSBC InvestDirect Financials Services (India) Ltd.

Separately, Suraj Finvest Pvt Ltd pledged 10,00,000 shares, equivalent to 0.23% of the total share capital, to Bajaj Finance Limited on May 27, 2026. The reason cited for all transactions was the pledge of shares as per agreement with the lender.

Post-Transaction Encumbrance Status

Following these transactions, the total encumbered holdings for the promoter entities increased. Diwakar Finvest Private Limited's total encumbered shares rose to 2,68,39,014, which constitutes 6.15% of the total share capital. Suraj Finvest Pvt Ltd's encumbered holding increased to 1,30,28,992 shares, accounting for 2.98% of the total share capital.

Promoter Entity	Total Shares Held	% of Share Capital	Pre-event Encumbered Shares	Post-event Encumbered Shares	Post-event Encumbered %
Diwakar Finvest Private Limited	9,87,94,786	22.63	2,54,89,014	2,68,39,014	6.15
Suraj Finvest Pvt Ltd	10,56,30,326	24.20	1,20,28,992	1,30,28,992	2.98

The disclosure also listed the shareholding details of other promoter group individuals and entities, including Laxmi Devi Bajoria, Santosh Goenka, and Sushil Kumar Goenka, among others, though no new encumbrances were reported for these entities.