Blackstone Investing US$35 Million in S. H. Kelkar & Co. (Asia)

Source: VCCircle  |  Authors: Sneha Shah and Madhav A. Chanchani

The Blackstone Group has invested INR2 billion (approximately US$35 million) in India’s S. H. Kelkar & Co., which develops and manufactures fragrances for a variety of cosmetic products. The company previously received US$21 million in funding from U.S.-based private equity firm Wayzata Investment Partners in September 2010 through the Wayzata II Indian Ocean Fund.