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Oliva Skin & Hair Clinic, which is a medico-aesthetic dermatology services player, has said it has sold majority stake to Kedaara Capital for a consideration of USD 65 million (around Rs 530 crore). With its third investment in the single speciality healthcare segment, Kedaara aims to fuel Oliva's growth towards becoming a leading medico-aesthetic dermatology chain, a statement said. The transaction also provides an exit to InvAscent, which invested in the company in 2014, it said, without disclosing the details such how much was invested and for what stake. Nor the company disclosed what is the stake that Kedaara has picked up. Founded by Prashant Soma in 2009, Oliva has been supported by multiple rounds of funding from InvAscent-advised India Life Sciences Fund II. Oliva grew from a four-centre Hyderabad-based operation to a network of 23 centres across Bengaluru, Chennai, Pune, Kolkata, Kochi and Vizag now and offers a range of skin and hair treatments and products. Kedaara is
Nykaa has acquired a majority stake in homegrown skincare brand Dot & Key, the first direct-to-consumer (D2C) beauty brand acquired by the IPO-bound beauty and fashion e-commerce platform. This is the first D2C (direct-to-consumer) beauty brand acquired by Nykaa and following this investment by Nykaa, Dot & Key will join Nykaa's stable of owned brands, Nykaa said in a statement on Friday. While the company did not disclose the financial details, Nykaa's red herring prospectus (RHP) shows it purchased 3,35,000 equity shares from the existing shareholders of Dot & Key for about Rs 46.9 crore and further subscribed to 3,57,143 equity shares for a consideration of about Rs 50 crore. "On September 28, 2021, our company acquired 51 per cent of the outstanding equity shares of Dot & Key Wellness Private Ltd (Dot & Key) through the subscription and purchase of equity shares. "Following this investment, Dot & Key became one of our owned brands and this investment will ..