L'Oréal announced on Thursday that it would acquire a majority stake in Innovist. While the companies did not disclose financial details, people familiar with the transaction told ET that the deal values the Gurugram-based startup at around Rs 4,000 crore.
Innovist cofounder and chief executive Rohit Chawla is expected to pocket around Rs 600-700 crore from the sale of part of his stake to French beauty major L'Oréal, while early investors Sauce VC, IC… [+3906 chars]
Originally published by
The Times of India
