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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 a range of products and services helping pet owners.
The pet care sector in India has witnessed rapid growth led by an 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 the pet-care industry will reach Rs 45-50 billion in the next three years.
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