Personal care products maker Dabur India Limited has acquired 72.15% stake in Fem Care Pharma, a women’s skin-care products company for Rs 203.7 crore. 

The board of directors of Dabur India approved the acquisition on Friday.

As per the SEBI guidelines for takeover, Dabur will make an open offer for another 20 per cent in Fem Care. The transaction, finalised at a price per share of Rs 800, will take the total deal size to Rs 202.4 crore and giving Fem Care an enterprise valuation of more than Rs 300 crore.

With Fem Care’s product portfolio, which include fairness bleach, hair remover and liquid soap under the Fem brand, Dabur hopes to gain entry into the high-growth skin-care market.  

FCPL, has a significant international market presence in markets such as Yemen, Maldives, Mauritius, Malaysia, UAE, Oman etc. While Dabur at present has a minor presence in the skin-care market with products under the Gulabari and Vatika brands. 

According to a research report, the domestic skin-care market is pegged at Rs 2,200 crore and is growing at 20 per cent annually. 

The Fem Care Pharma stock closed on Friday at Rs.659, up 2% while Dabur India settled the day at Rs 74.50.