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.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.