Personal care brand WOW Skin Science announced on Friday that Indian private equity firm ChrysCapital will invest Rs 373 crore in the company to secure a significant minority stake.
“ChrysCapital has agreed to invest Rs 373 crore in the company for a significant minority stake. The transaction is a combination of a primary increase by the company for growth initiatives and a secondary sale by existing shareholders,” said WOW Skin Science in a statement. .
WOW co-founder Manish Chowdhary said the company’s vision is to become the number one brand in the toxin-free space of the general consumer goods industry.
Wow Skin Science was founded in 2014 by brothers Manish and Karan Chowdhary.
Ashish Agrawal, Managing Director of ChrysCapital, said the founders of WOW Skin Science had a strong track record of significantly outperforming industry growth while demonstrating superior capital efficiency.
“We look forward to helping WOW multiply by further increasing online penetration, driving offline expansion in India and introducing new brands in related categories,” he added.
PricewaterhouseCoopers and J Sagar Associates (JSA) advised Wow Skin Science, while Quillon Partners advised ChrysCapital.