CavinKare to float an IPO by next year

By

Maverick Martins

Published
Jun 7, 2018

Indian FMCG major CavinKare, the maker of shampoos and fairness creams is looking to float an initial public offering (IPO) with an valuation of more than $1 billion by next year, said a top company official.
 

As part of its preparations to go public the company is restructuring the organisation and has divided its business in strategic business units.
 
The company is also betting big on its unisex salon chains and will more than double the store count for Green Trends and LimeLite to 100 salons from the existing 40.

“We will come out with an initial public offering (IPO) either next year or by 2020 and the valuation should be significantly higher than a $1 billion. We had a good year last year,” C K Ranganathan, CMD of CavinKare was quoted as saying by Times of India.
 
“Despite the GST related issues which impacted price erosion in topline by 5%, we did well in the personal care space. We did revenues of Rs 1,600 crore for March 2018, up from Rs 1,300 crore a year before. This year, we are eyeing more than Rs 2,000 crore,” Ranganathan added.
 
CavinKare is one of India’s leading brands in the personal care space with shampoo brands like Chik, Nyle and Meera; fairness cream brand Fairever and deodorant and talc brand Spinz.