Shantanu Deshpande Net Worth: View Shareholding Details of Mumbai Shaving Company CEO

Shantanu Deshpande, founder and CEO of men’s grooming brand Bombay Shaving Company, has been in the news recently after he expressed his views on the fast commercial food delivery business in India on December 15.

“Cooking time is 2 minutes and delivery time is 8 minutes. A ‘Qualcomm Foods’ founder told me this and I lost my mind,” Deshpande said in a post on LinkedIn.

“Frozen purees, curries and old vegetables are heated and garnished with dhaniya to look fresh and then slammed into some two-wheelers that ride to your doorstep like Mad Max in 10 minutes because you can’t Wait another 15 minutes or you are too lazy,” said the startup founder while expressing his views on the 10-minute speedy delivery.

The 37-year-old entrepreneur, who has embarked on a journey to change the men’s grooming industry, owns nearly 21.1% of Bombay Shaving Company as of the last funding round held on June 2, 2023, data shows. Collected from Tracxn.

While Shantanu Deshpande’s exact net worth is not disclosed, the company’s total holdings data reveal that the founder and CEO’s holdings are worth close to $As of the last funding round, the amount was Rs 167.4 crore (unrealized).

Tracxn data also suggests Deshpande is aware $After fundraising, a total of 269 million rupees have been raised. After the 2023 funding round, the founders’ shareholding dropped by 120 basis points to 21.1%, compared with the previous shareholding of 22.3%.

Company raising $According to the research house, Rs 42 crore was raised from a Series C3 round in June 2023 in exchange for diluting 5.3% of the total stake in the Mumbai shaving company.

The data also suggests that the startup’s post-money valuation is $792 crore, compared to Rs. $The pre-money valuation is Rs 750 crore.

The company’s major shareholders include the founders (holding 21.1% of the shares) and angel investors (holding 17.7% of the shares). Colgate-Palmolive, with a 12.3% stake, is one of the key stakeholders in the consumer-oriented brand.

Company financial status

Visage Lines Personal Care Pvt Ltd owns the Bombay Shaving Company brand and offers products such as shaving foam, aftershave lotion, razors, fragrances, skin care and hair care products.

According to its financial statements for the fiscal year ending 2022-23, the company’s losses widened by 85%, with a net loss of $803 million while the net loss was Rs. $434 million in the previous financial year, according to Tracxn data.

However, the company’s operating income increased 71.5% to $182.4 crore in FY 2022-23, compared with Rs. $1,063 million in the previous year.

According to the research house, the company has nearly 21% market share in India, ranking second behind Man Matters’ 26%. Other brands include Battle Cry (17%), Mars by GHC (13%), Ustraa (13%) and Khadi Men (8%).