New Delhi (Anish Yande):
VLCC Health Care has filed a draft red herring prospectus with the market regulator Sebi for an upcoming initial public offering. The beauty and wellness company’s IPO consists of a fresh issue of Rs 300 crore. Check all details of the beauty and wellness company’s IPO here.
VLCC Health Care IPO details:
The beauty and wellness company’s IPO will consist of a fresh issue of Rs 300 crore. VLCC Health Care IPO consists of an offer for the sale of 89,22,672 equity shares by promoters and investors.
Promoters Mukesh Luthra will offload 18,83,414 equity shares through the OFS. Investors Leon International and OIH Mauritius would exit the company by selling their entire shareholding.
OIH Mauritius would offload 18,97,540 equity shares amounting to 5.04 per cent of the pre-offer paid-up equity stake. Leon International would sell 51,41,718 equity shares comprising 13.65 per cent of pre-offer paid-up equity.
Vandana Luthra and Mukesh Luthra, promoters of VLCC Health Care together hold a 68.72 per cent stake in the company.
The net proceeds from the VLCC Health Care issue are expected to amount to Rs 83.24 crore. The company would use the proceeds to establish VLCC Wellness clinics in India and the Gulf region. VLCC Health Care would also refurbish certain existing VLCC Wellness clinics in India and GCC region.
The company would repay debt worth Rs 66 crore will be used from proceeds. DAM Capital Advisors, IIFL Securities, and ICICI Securities are the lead managers of the issue.
VLCC Health Care company details:
VLCC Health Care was incorporated in 1996 by founders Vandana Luthra. The beauty and wellness company is one of the leading companies in the wellness & beauty services industry in India.
Under the VLCC brand, VLCC branded personal care products, VLCC branded Wellness & Beauty clinics, and VLCC branded institutes had been developed for skill development in beauty and nutrition.
As of March 2021, VLCC Health Care had customers across 310 locations in 143 cities in 12 countries in South East Asia, South Asia, the GCC region, and East Africa.
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