Mumbai, Nov. 7 -- Samara Capital, an India-focused mid-tier private equity firm, has initiated plans to exit ESME Consumer, a personal care and beauty products company it owns wholly, two persons familiar with the matter said.

The company has appointed investment bank Jefferies to facilitate the complete exit and the deal was launched a few weeks back, the first person said.

The deal may be in $175-225 million valuation range, the second person said, with both strategic and financial buyer to be approached. Both persons wanted their names not taken in this report.

If the private sale does not materialize at a suitable valuation, Samara may also consider a public listing for the asset, the second person added.

Jefferies declined to com...