Mahesh Bhupathi’s D2C wellness brand Scentials is raising INR 34.62 Cr (around $4 Mn) in a mix of debt and equity infusion from Indus Way Emerging Market Fund and TIW Private Equity.

Scentials board has passed a resolution to allot 89,200 compulsorily convertible preference shares (CCPS) to Indus Way Emerging Market Fund at a value of INR 16.03 Cr.

Additionally, the startup has also proposed to offer 18.9 Lakh optional convertible debentures (OCD) at a value of INR 18.58 Cr to both the investors.

While Indus Way Emerging Fund will be investing INR 32 Cr, TIW PE will infuse INR 4 Cr via convertible debentures.

Entrackr was the first to report the development.

Founded in 2018 by Bhupathi and Jinesh Mehta, Scentials Beauty Care and Wellness develops its own line of beauty & wellness products, as well as co-branded products with celebrities such as Virat Kohli, Lara Dutta and Salman Khan.

(The story will be updated soon)

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