VLCC Health Care will use the net IPO proceeds to establish VLCC Wellness Clinics
VLCC Health Care has submitted the draft red herring prospects to market regulator Sebi to raise funds through an initial public offering (IPO). The primary market offering from one of the largest beauty and wellness companies in India includes a new share issue worth Rs 300 crore and an offer for sale (OFS) of 89.22 lakh shares by promoters and existing shareholders. Shares of VLCC Health Care are likely to be listed on both BSE and NSE.
VLCC Health Care will use the net IPO proceeds to establish VLCC Wellness Clinics in India and the GCC region, and VLCC Institutes in India. It will also use the money to refurbish existing VLCC Wellness Clinics in India and the GCC region and repay debt.
VLCC Health Care operates VLCC-branded wellness and beauty clinics and VLCC-branded institutes for the development of beauty and nutrition skills, and also sells VLCC personal care products. Vandana Luthra and Mukesh Luthra are promoters of the company.
ICICI Securities, DAM Capital Advisors and IIFL Securities are the investment bankers for the public issuance.
