NEW DELHI: VLCC Effectively being Care Ltd, one in every of many largest homegrown magnificence and wellness companies in India, has filed preliminary papers with markets regulator Sebi to spice up funds via a preliminary share sale.
The preliminary public provide (IPO) contains modern issuance of equity shares worth Rs 300 crore and an offer-for-sale (OFS) of 89.22 lakh equity shares by the promoter and present shareholders, in accordance with the draft pink herring prospectus.
VLCC IPO |
The OFS contains the sale of as a lot as 18.83 lakh equity shares by promoter Mukesh Luthra, as a lot as 18.97 lakh equity shares by OIH Mauritius Ltd, and 52.42 lakh equity shares by Leon Worldwide.
At present, Vandana Luthra and Mukesh Luthra keep 44.35 p.c and 24.37 p.c stake, respectively inside the agency, Leon Worldwide owns a 13.65 p.c stake and OIH Mauritius has 5.04 p.c holding inside the company.
Funds raised via the modern issuance of shares shall be used for establishing VLCC Wellness Clinics in India along with Gulf Cooperation Council (GCC) space, and VLCC Institutes in India.
In addition to, proceeds could be utilized for the refurbishment of positive present VLCC Wellness Clinics in India and GCC space, mannequin progress, funding in digital and knowledge experience infrastructure, and payment of debt.
The company may ponder a pre-IPO placement aggregating as a lot as Rs 100 crore. If such placement is completed, the modern state of affairs dimension shall be lowered.
“VLCC IPO”
VLCC Effectively being Care operates VLCC branded wellness and surprise clinics and VLCC branded institutes for expertise progress in magnificence and food plan. It moreover manufactures and sells VLCC branded personal care merchandise.
Based mostly by Vandana Luthra, VLCC was among the many many first multi-outlet firm operations inside the wellness and surprise enterprise, which was on the time largely composed of individually operated, small-scale corporations.
As of March 2021, the company served shoppers all through 310 areas in 143 cities and all through 12 nations in South Asia, South East Asia, GCC space, and East Africa.
The company has created an ecosystem of full corporations and merchandise, along with wellness packages, weight administration choices, personal care merchandise, nutraceutical merchandise, and expertise progress teaching.
ICICI Securities, DAM Capital Advisors, IIFL Securities have been appointed as service supplier bankers to advise the company on most of the people state of affairs. The equity shares of the company shall be listed on BSE and NSE.