Kolkata-based FMCG firm, Emami Limited, owned by Agarwal and Goenka families, has raised Rs 310 crore via the qualified institutional placement (QIP) route, selling 100,00,000 equity shares of face value Rs 2 each, at the issue price of Rs 310 per equity share. The bid, stated on June 30 and priced on July 2, was coordinated by India Infoline Limited (IIFL) and Anand Rathi Financial Services Ltd.

The move is aimed to roll out new products and to reduce debt burden in the midst of uncertain market conditions. The firm also wants to invest these funds in such instruments which can prove beneficial for stakeholders in a long run.

R S Agarwal, Chairman of Emami, has said that the company is fully aware of the concerns of the stakeholders, and will take all necessary and possible measures to ensure the safety of their interest.

The firm may invest funds in banks and mutual fund segment, besides using them for other corporate purposes.

The promoters own 88 per cent of the company's total paid up equity, which is expected to come down following the QIP and the recent merger of Emami with Zandu Pharmaceuticals.