Indiaco Ventures buys stake in Laser Cosmetics

Private equity player Indiaco Ventures has acquired 20.83% stake in Laser Cosmetics, a company catering to cosmetic surgery sevices. Founded in 2005, Laser Cosmetics operates cosmetic clinics under the brand name Maaya at Mangalore.

Indiaco Ventures informed the BSE that it has subscribed to 25% in preference shares. Currently the company owns 1 lakh 50 thousand equity shares of Rs 10 each of a total 7 lakh 20 thousand shares of Laser Cosmetics. It has also bought 12,500 preference shares of Rs 100 each of a total fifty thousand preference shares of Laser Cosmetics.

Indiaco, vice-chairman & managing director, Rahul Patwardhan had earlier told reporters that the company is in the process of setting up its first special purpose vehicle to invest in the telecommunications field with a corpus of $30 million. He said that IndiaCo will create a string of SPVs to facilitate equity investments in a variety of promising sectors including manufacturing, information technology and real estate.