The Blackstone Group LP
The U.S. private equity giant has bought a 34.5 percent stake in the company, sources with direct knowledge of the matter told Reuters.
SH Kelkar & Company provides specialty fragrance and flavour ingredients used by consumer goods companies.
Blackstone, which is the world's largest fund and manages about $166.2 billion globally, has invested about $2.5 billion in India so far.
Keynote Corporate Services was the advisor for the transaction.