New Delhi: VLCC Health Care Ltd., one of the largest homegrown beauty and health companies in India, has submitted an initial paper with the regulator market as a result of raising funds through initial sales.
Initial Public Offering (IPO) consists of the issuance of fresh equity shares worth RS 300 Crore and offers – for sale from 89.22 lakh equity shares by existing promoters and shareholders, according to draft red herring prospectus.
OFS consisted of sales of up to 18.83 Equity Stocks Lakh by Mukesh Luthra’s promoter, up to 18.97 Equity Stocks Lakh by Oih Mauritius Ltd and 52.42 lakh Equity Stock by Leon International.
At present, Vandana Luthra and Mukesh Lutra have 44.35 percent and 24.37 percent of shares, each in the company, Leon International has 13.65 percent of the shares and Oih Mauritius has 5.04 percent upholding in the company.
The funds raised through the issuance of new shares will be used to establish VLCC Wellness Clinics in India as well as the area of ​​the Gulf Cooperation Board (GCC), and the VLCC Institute in India.
In addition, the results will be used to improve certain VLCC Wellness clinics in the territory of India and GCC, brand development, investment in digital infrastructure and information technology and payment of debt.
The company can consider the pre-IPO placement that combines up to RS 100 Crore.
If placement like it is complete, the size of a fresh problem will be reduced.
VLCC Health Care operates the VLCC Wellness and Beauty Clinic and VLCC Branded Institutes for skills development in beauty and nutrition.
It also produces and sells branded VLCC personal care products.
Founded by Vandana Luthra, VLCC is one of the first multi-outlet operations in the health and beauty industry, which at most consists of small-scale businesses operated individually.
In March 2021, the company served customers at 310 locations in 143 cities and in 12 countries in South Asia, Southeast Asia, GCC and East Africa.
The company has created a comprehensive ecosystem and products, including health programs, weight management solutions, personal care products, nutraceutical products and skills development training.
ICICI Securities, Dam Capital Advisors, IIFL Securities has been appointed as a trader banker to advise the company for public problems.
The company’s equity stock will be registered with BSE and NSE.