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August 15, 2013

Deal Alert: Sequoia invests Rs.110-Cr in Vini Cosmetics

Sequoia Capital has bought a minority stake in Ahmedabad-based Vini Cosmetics Pvt. Ltd for Rs.110 crore. Of this, Rs.35 crore was used to purchase the stake of an unnamed investor. Rest of the funds raised will be used for diversifying into over-the-counter (OTC) products and nutraceuticals. 

Founded by Darshan Patel in 2010, Vini Cosmetics makes Fogg deodorants and talcum powder White Tone and Jinjola and has an annual turnover of about Rs.175 crore.

Source: Mint

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