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FMCG firm Marico today announced listing of its skin care business Marico Kaya Enterprises Limited (MaKE) on NSE and BSE.
MaKE Ltd, the holding company of Kaya Ltd, owns and operates 86 Kaya Skin clinics in 26 cities in India, the company said in a BSE filing.
Commenting on the announcement, MaKE Ltd Chairman and Whole-Time Director Harsh Mariwala said: "MaKE being listed independently reflects the beginning of a new journey for Kaya. We believe that Kaya has a distinct potential to create value as an emerging specialised skincare business."
In January last year, Marico had announced plans to demerge Kaya into a separate entity and list it independently on bourses as part of the company's business restructuring process.
"The company strongly believes that for the next phase of its value creation journey, the Kaya business should be run in an entrepreneurial manner independently from the FMCG business of Marico," the company had said in a statement while announcing its plans for demerger.
The restructuring will bring sharper focus across both the consumer goods and cosmetic services businesses of the company, it added.