Marico to separate Kaya biz, list it on bourses

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Marico to separate Kaya biz Marico to separate Kaya biz
SummaryFMCG firm Marico today said it will demerge its Kaya skin care business into a separate entity and list it independently on bourses, as part of the company's business restructuring process.

company said Kaya Chief Executive Officer Ajay Pahwa has decided to leave the organisation, to pursue an entrepreneurial venture backed by private equity investment.

Scrip of Marico today closed at Rs 227.45 on the BSE, up 1.36 per cent from its previous close.

The Kaya skin care business, which was launched in 2002, has 82 clinics in 26 cities across India, 19 clinics in the Middle East and 2 clinics in Bangladesh. Its product range has over 40 products for skin, hair & body for both women and men.

In 2010, Kaya also acquired the aesthetics business of Singapore-based Derma Rx Asia Pacific Pte Ltd. There are 3 centres across Singapore and Malaysia. Marico, which is present in more than 25 countries across Asia and the African continent, had reported turnover of Rs 4,000 crore in 2011-12.

The company's portfolio includes brands like Parachute Advansed, Saffola, Hair & Care, Nihar and Mediker. It recently acquired the personal care business of Reckitt Benckiser.

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