Market cap will increase to 8600 crores, Vini is a registered company of Ahmedabad
Private equity sector giant KKR has made a big announcement on Monday. KKR said in its announcement that it is going to invest 625 million US dollars i.e. about 4600 crores in the company for e-trolling in Vini Cosmetics. With this deal, Ahmedabad’s registered Vini’s market cap with many big brands including Fogg is going to reach 8600 crores.
With this deal it is being said that fog is going on everywhere. In a joint statement by the company and the fund, investors who currently invest in Cow’s company, Westbridge Capital, will acquire a majority stake from the founding group to increase their shareholding. Company’s founder Darshan Patel, company’s chairman and joint MD Dipam Patel and Sequoia Capital will hand over majority stake in the company to KKR.
According to sources, according to this investment, KKR will increase its shareholding in the company to 54 percent. Apart from this, Westbridge Capital is also increasing its shareholding from 21 percent to 23 percent. During this time, Darshan Patel will serve as the chairman of the board in the company. While Dipam Patel will serve as the Vice Chairman. Let us tell you that before this, these two brothers had about 60 percent shares of the company.