Skip to main content

Deal Alert: Everstone Capital and Helion Venture Partners invest in Bangalore based salon chain R& R Salons (“YLG”)

From the Press Release:

Bangalore-based salon chain R&R Salons Private Limited (“YLG”) today concluded its second round of private equity funding. This round saw participation from Everstone Capital and its existing investor, Helion Venture Partners. Avendus Capital was the sole financial advisor to R&R Salons on this transaction.

R&RSalons runs the “YLG” brand of salons, with Twenty salons in Bangalore and Pune, along with its Beauty Academy, ISHA. The proceeds of this fund raise will be used towards YLG’s organic growth plans and expand into major cities across thecountry.

Mr.Sameer Sain, Co-founder and Managing Partner at Everstone Capital, said “The Beauty and Grooming services space is growing rapidly and is highly fragmented. YLG has built a strong regional brandand our goal is to make it a leading national player. A combination of a strong management team and Everstone's strong operational capability and growth capital give us the confidence that YLG can truly become the premier salon business in India.”

Mr.Rahul Bhalchandra, the promoter and CEO of R&R Salons said, “We have drawn up aggressive expansion plans whichinvolve opening up over 200 company owned salons over the next 6 years. We are delighted to partner with Everstone and believe that the business capital and high caliber of operational inputs provided by them would be a key enabler in the successful execution of our plans. Continued support from Helion reinforces its conviction in the company and in the mid-premium salon space in India”.

Mr.Kanwaljit Singh, Senior Managing Director, Helion Advisors, said “The Helion team were early believers in the salon business. The sector is attracting higher investor interest and the learning from the early years of the business can now be applied to build a truly long lasting pan Indian Beauty service brand. Helion Ventures, as an early investor,had virtually helped incubate the business from idea stage to reality, and continue to remain invested and excited about YLG’s growth prospects.”

Mr.Gaurav Deepak, Managing Director at Avendus Capital said, “The Hair and Beauty Salon Industry in India is poised to grow at over 30% per annum, driven by the rising affluence and increasing consumer awareness. We believe that YLG presents a strong platform driven by a high quality management team, uniquely positioned to become themarket leader in this space. The partnership with Everstone gives YLG a strong runway to execute its growth plans.”

About R&R Salons Private Limited
R&R Salons Private Limited is a Bangalore based company running the “YLG (You Look Great)” brand of women-only salons. Started in 2008, it currently operates nineteens alons in Bangalore and one salon in Pune, and is known for introducing its unique “Unlimited use” membership programs for its customers. It also operates an academy which offers hair and beauty training courses to students. The company is promoted by Mr. Rahul Bhalchandra. Helion Venture Partners had invested in the company in 2008.

For more information, please visit

About Everstone
Everstone Capital is an India focused investor with dedicated private equity and real estate funds with assets under management of around USD 1.6 billion. Founded in 2006 by Atul Kapur and Sameer Sain,Everstone Capital now has more than 100 people working across five offices andhas invested over US$ 1 billion in India over the last 6 years. EverstoneCapital has an active operational, hands-on approach to its private equity andreal estate investment management businesses with a focus on companies thatbenefit from domestic consumption within India and several other sectors suchas energy and infrastructure services. Some of Everstone's investments includeSula, VLCC, Blue Foods, IndoStar Capital, Crystal Crop Protection,RegenPowertech and Asian Genco.

For more information, please visit

About Helion Venture Partners
Helionis a multi-stage, India-focused venture fund with over $600 million undermanagement. The fund invests in businesses that are technology-powered orcatering to the Indian consumer services space. The focus sectors of investmentinclude - internet, mobile, technology products, outsourcing, Healthcare,education, retail services and financial services. The fund's investors arewell-respected global institutions including top tier university endowmentfunds, sovereign funds, foundations, pension funds, family offices and Fund offunds. The fund and its portfolio companies are advised by an experienced andindustry renowned team of professionals based in India and includes SanjeevAggarwal, Ashish Gupta, Kanwaljit Singh, Rahul Chandra and R Natarajan.

For more information please visit

About Avendus Capital
Avendus Capital is a leading financial services firmwhich together with its group companies provides customised solutions in the areas of financial advisory, equity capital markets, alternative asset management and wealth management. Avendus Securities through its Institutional Equities practice is able to offer clients best-in-class research-driven adviceto help them take investment decisions, while Avendus PE Investment Advisorsmanages funds raised from its investors by investing in public markets. The Group relies on its extensive track record, in-depth domain understanding and knowledge of the economic and regulatory environment, to offer research based solutions to its clients that include institutional investors, corporates and high net worth families. Avendus Capital has consistently been ranked among the top-five corporate finance advisors in India and has emerged as the advisor of choice for cross-border M&A deals and has closed 40 cross-border transactions in the past 4 years. Headquartered in Mumbai, the firm has offices in New Delhi and Bangalore. Avendus Capital, Inc (US) and Avendus Capital (UK)Pvt. Ltd. located in New York and London, respectively, are wholly owned subsidiaries offering M&A and Private Equity syndication services to clients in the respective regions.
For more information, please visit

Popular posts from this blog

VC Interview: Shailendra Singh of Sequoia Capital India

In a recent interview to Venture Intelligence, Shailendra Singh discussed some of the firm’s newer investments in the early stage segment including in the online payments space, the progress at a few existing portfolio companies and the active role the firm is playing in helping its portfolio companies scale and succeed in India and globally. Prior to joining the firm in 2006, Singh was a strategy consultant at Bain & Company in New York and before that, an entrepreneur in the digital media industry.

Venture Intelligence: How does Sequoia go about identifying potential early stage investments in India? Is there anything different you are doing today than, say, a couple of years back?

Shailendra Singh: There is a lot more focus on technology investing and early stage investing. In general, as you might remember a few years ago, we were doing primarily growth investing but in the past 18-odd months, we have had a very strong focus on early stage and that’s continuing. In terms of how…

PE Investments down by 36% in Q1'20

Press Release
Private Equity-Venture Capital (PE-VC) firms invested $5.9 Billion (across 164 deals) during the quarter ended March 2020 - 36% lower than the $9.2 Billion (across 249 transactions) during the same period last year, according to data from Venture Intelligence, a research service focused on private company financials, transactions and their valuations. The Q1'20 investments were also 37% lower compared to the immediate previous quarter (which had witnessed $9.4 Billion being invested across 227 transactions). (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate).
The latest quarter witnessed 14 PE-VC investments worth $100 million or more, down from the 20 such transactions in the same period last year. The largest PE-VC investment announced during Q1’20 was the $567 million takeover of power generation company RattanIndia Power by Goldman Sachs and Varde Partners. The second largest investment was SoftBank Vision Fund…

Ambit tops League Table for Transaction Advisors to Private Equity deals in 2019

Ambit Corporate Finance topped theVenture Intelligence League Table for Transaction Advisor to Private Equity Transactions for the year 2019. Ambit advised PE deals worth $2.4 Billion (across 4 qualifying transactions) during the period. Citi ($1.1 Billion across 2 deals) and Avendus ($969 million across 12 deals) took the second and third spot. Edelweiss Financial Services ($758 million across 9 deals) and PwC ($708 million across 15 deals) completed the top five in 2019. 

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Financial and Legal Advisory firms.
Ambit Corporate Finance advised the $1.9 Billion buyout of Pipeline Infrastructure from Reliance Industriesby Brookfield Asset Management and the IFC and I Squared Capital-backedCube Highways' acquisition of Delhi-Agra Toll Road from Reliance Infrastructure (Reliance ADAG). Citi advise…

PE investments in 2018 crosses $33-B to set new all-time high

Big Ticket investments in consumer apps Swiggy & Byju’s dominates year-end activity, even as investments in Core Sectors slow down
Private Equity (PE) investments in India rose to their highest ever figure of $33.1 billion in 2018 (across 720 transactions), according to data from Venture Intelligence (, a research service focused on private company financials, transactions and their valuations. While PE investments have already surpassed the previous high - $24.3 Billion across 734 deals in 2017 - in the first nine months of 2018, the mega investments in Consumer Internet & Mobile startups such as Swiggy and Byjus towards the year-end, helped the 2018 total vault by 36% year-on-year. (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate.) The year witnessed 81 PE investments worth $100 million or more (accounting for 77% of the total investment value during the period), compared to 47 such transac…

"Leveraged stock purchase led Arvind Rao to go astray": Forbes India

Forbes India has an article on the series of events leading to the recent controversial exit of Arvind Rao, Co-founder & CEO of listed Mobile VAS firm OnMobile.

On November 23, 2010, Arvind Rao, the 53-year-old co-founder and CEO of OnMobile, bought approximately 6 lakh shares of his company from the open market, representing a little over 1 percent of the company’s total shares....At Rs 277 a share, he had to pony up nearly Rs 16.5 crore to acquire them....So he went ahead and borrowed money to buy the shares, thinking nothing of the interest it entailed or the fact that he’d need to put up nearly half his existing shareholding as collateral...OnMobile’s shares continued to fall from those levels, while Rao’s interest payments ballooned.

...Motivated by OnMobile’s growth all these years, he had never paid much attention to his salary, most of which went towards the monthly rental on his sea-facing apartment in Mumbai and his BMW 7-Series, both paid directly by the company. He reque…