MUMBAI: The promoters of Wonder Products Group have engaged PwC as an adviser to sell a 30–35% stake within the contract manufacturing firm in what is going to probably be its first spherical of exterior funding, two folks conversant in the matter mentioned.
“The valuation discovery remains to be underway, however the promoters are in search of about $250 million for the 30–35% stake,” one of many folks mentioned, including that personal fairness companies will likely be tapped as a part of the method.
“These efforts are aimed toward professionalizing the corporate forward of plans to finally checklist within the public markets,” the second particular person mentioned on the situation of anonymity.
Wonder Products’ promoters Rajat Kumar Bhalotia and Rajesh Kumar Bhalotia and PwC didn’t reply to Mint’s requests for touch upon the stake-sale plan.
Wonder Products is a contract producer of non-public care, cosmetics and residential care merchandise that caters to greater than 1,000 world purchasers. Past key prospects L’Oreal, Unilever and Hindustan Unilever, Wonder additionally providers Reliance Industries, Faces Canada, Nykaa, Reckitt, Marico, Cipla, Procter & Gamble, Colgate, Yardley and Dabur, amongst others, based on its official web site.
The potential deal comes on the heels of heightened investor curiosity in contract manufacturing on the again of the rising market share of direct-to-consumer gamers and retailers, elevated outsourcing by FMCG gamers, and an export-driven play coupled with altering client demand patterns tilted in the direction of premiumization.
Distinguished offers within the house embody Lighthouse Funds’ ₹700 crore funding in Parsons Nutritionals in April 2024, Kotak Alternate Asset Managers’ ₹1,050 crore funding in Tirupati Medicare (March 2025), Pontika Aerotech’s ₹70 crore elevate from India SME Investments (October 2024) and Hindustan Meals’ ongoing inorganic development technique.
Darkish horse
India’s FMCG contract-manufacturing business has emerged as a darkish horse up to now 24 months, partly pushed by a metamorphosis from a fragmented low-margin phase into one with reasonable to large-scale operations, deep innovation capabilities, diversified product and buyer base and publicity to export markets resulting in development and profitability. This has led to vital worth creation within the public markets and laid the bottom for personal fairness play, KPMG mentioned in a report final 12 months.
Based in 1994 by the Bhalotia household, New Delhi-based Wonder Products focuses on analysis and developmental formulation, logistics, and white-label options for industries resembling private care, hair, physique and skincare, oral care, aerosol, soaps, detergents, derma cosmetics, and prescribed drugs. As per the KPMG report, the corporate reported income of ₹1,250 crore in FY25.
Wonder competes with Hindustan Meals Ltd, Oriclean, Clarion, Kapco, Shivani Enterprises, Pontika Aerotech, IPF-Vikram and the VVF Group.
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