True North in talks to buy stake in Sesa Hair Oil

MUMBAI: Ban Labs Pvt. Ltd, a maker of hair care products including the popular Sesa hair oil, is in advanced talks to raise as much as ₹400 crore from private equity fund True North Capital, two people aware of the development said. True North plans to acquire a large minority stake in the Sesa Hair Oil brand which will be held under a new entity, the people mentioned above said on condition of anonymity. Mint had reported in July 2016 that Ban Labs had put the brand on the block and was seeking a valuation of close to ₹1,200 crore for the business but had failed to find a buyer then.