Veteran value investor and academician Shivanand Mankekar-backed fitness company Talwalkars Better Value Fitness Ltd has raised its holding in Denovo Enterprises and Aspire Fitness Private Limited to make them its subsidiaries. This is part of its strategy of making all joint ventures and associates of the company a part of the firm i.e, owning over 50% stake that allows it to consolidated their earnings with itself.
In both the companies, Talwalkars held 50% stake. While Aspire was incorporated as a 50:50 JV along with Life Fitness India Pvt Ltd, Denovo was a company running Talwalkars branded fitness outlets as a franchisee. For the year ended MarchDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
