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As per exchange filling Emami Ltd. said to acquire strategic stake of 30% in Cannis Lupus Services India Pvt. Ltd. It is a start-up incorporated in May 2019, run by lawyer turned entrepreneur Mr Animesh Katiyar based out of Gurugram.
According to our estimate, the acquisition price would be ~Rs 25-30 million. As per exchange filing the company has reported average revenues of Rs 0.23 million from FY20-22. Under the brand of ‘Fur Ball Story’ the company offers range of product and services helping pet owners.
Pet care sector in India has witnessing rapid growth led by increase in house pets along with higher disposable income. With increasing awareness of the psychological and physical benefits of having a pet at home and this has further accelerated during the pandemic.
Industry experts point out that pet-care industry to reach Rs 45-50 billion in next three years.
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