Sexual wellness firm Chaturbhuj Pharma hires banker to sell stake

Chaturbhuj Pharmaceutical Co., which retails sexual wellness products under the brand Japani, is looking to sell a majority stake, a person close to the development told VCCircle.

Investment banking firm Anand Rathi is running the transaction and is likely to start the process soon, the person said, asking not to be named.

Anand Rathi did not immediately respond to a request for comment. Chaturbhuj could not be contacted. 

The Mint newspaper, which first reported the development, said the promoters of Chaturbhuj are asking for a valuation of Rs 500 crore for the brand. The report pegged the company’s annual revenue at around Rs 60 crore to Rs 65 crore.

Chaturbhuj sells ayurvedic capsules for sexual wellness for both men and women. It also sells oil products for men in the same category.  

Founded by Murari Sharma in 2005, the company sells its products in 20 states, according to its website. Chaturbhuj had previously sold its ayurvedic oil brand Kesh Pari to SBS Biotech Ltd, according to its website.

The ayurvedic segment has seen a couple of large M&A transactions over the past year or so. Emami Ltd agreed to acquire SBS Biotech, including its flagship brand Kesh King oil for Rs 1651 crore in June 2015.

In December 2015, Hindustan Unilever acquired the Indulekha hair care brand for Rs 330 crore.

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