The OFS includes sale of as much as 18.83 lakh fairness shares by promoter Mukesh Luthra, as much as 18.97 lakh fairness shares by OIH Mauritius Ltd and 52.42 lakh fairness shares by Leon Worldwide.
Luthra and Mukesh Luthra maintain 44.35 per cent and 24.37 per cent stake, respectively within the firm , Leon Worldwide owns 13.65 per cent stake and OIH Mauritius has 5.04 per cent holding within the agency.
Funds raised via the recent issuance of shares will probably be used for organising VLCC Wellness Clinics in India in addition to Gulf Cooperation Council (GCC) area, and VLCC Institutes in India.
As well as, proceeds can be utilized for refurbishment of sure current VLCC Wellness Clinics in India and GCC area, model improvement, funding in digital and data expertise infrastructure and cost of debt.
The corporate might contemplate a pre-IPO placement aggregating as much as Rs 100 crore. If such placement is accomplished, the recent concern measurement will probably be decreased.
VLCC Well being Care operates VLCC branded wellness and sweetness clinics and VLCC branded institutes for ability improvement in magnificence and vitamin. It additionally manufactures and sells VLCC branded private care merchandise.
Based by Vandana Luthra, VLCC was among the many first multi-outlet company operations within the wellness and sweetness business, which was on the time principally composed of individually operated, small scale companies.
As of March 2021, the corporate served prospects throughout 310 areas in 143 cities and throughout 12 nations in South Asia, South East Asia, GCC area and East Africa.
The corporate has created an ecosystem of complete providers and merchandise, together with wellness programmes, weight administration options, private care merchandise, nutraceutical merchandise and ability improvement coaching.
ICICI Securities, DAM Capital Advisors,
have been appointed as service provider bankers to advise the corporate on the general public concern. The fairness shares of the corporate will probably be listed on BSE and NSE.