INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Colgate-Palmolive (India) came under pressure
on Friday as global asset management firm CLSA said the entry of
Colgate-Palmolive Asia Pacific into the Indian market will not augur well for the Indian subsidiary
CLSA expressed concerns that Colgate-Palmolive Asia Pacific’s foray into the Indian market by acquiring a stake in Bombay Shaving Company
will hit prospects of the shareholders in future
Colgate-Palmolive Asia Pacific, a subsidiary of the global consumer behemoth, made its debut in the Indian consumer brand space with an
investment in men’s grooming firm Bombay Shaving Company
The primary investment is pegged at about Rs 18 crore ($2.6 million), with the Hong Kong arm of the global consumer company leading the
round and picking up a 14 per cent minority stake in Bombay Shaving Company, ET reported.
The report quoted documents filed with the
Registrar of Companies and accessed from data research platform Tofler
Stock of Colgate-Palmolive (India) was at Rs 1,175.85, down by 1.22 per cent, around
11 am
Benchmark NSE Nifty slipped 0.09 per cent to 11,572 while the BSE Sensex was 0.06 per cent down at 38,315
