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Published on 30/11/2021 3:57:02 PM | Source: Accord Fintech

VLCC Health Care gets SEBI’s go-ahead to raise funds via IPO

Posted in IPO Analysis| #India #SEBI #IPO

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VLCC Health Care has received the Securities and Exchange Board of India’s (SEBI) approval to float an initial public offering (IPO). The IPO comprises fresh issuance of equity shares worth Rs 300 crore and an offer for sale (OFS) of 89.22 lakh equity shares by promoter and existing shareholders. The equity shares of the company will be listed on BSE and NSE. The company, which filed the draft red herring prospectus with the SEBI in August, got the regulator’s approval on November 25, 2021.

Funds raised through the fresh issuance of shares will be used for setting up VLCC Wellness Clinics in India as well as the Gulf Cooperation Council (GCC) region, and VLCC Institutes in India. Funds raised through the fresh issuance of shares will be used for setting up VLCC Wellness Clinics in India as well as the Gulf Cooperation Council (GCC) region, and VLCC Institutes in India. ICICI Securities, DAM Capital Advisors, IIFL Securities are the merchant bankers to advise the company on the public issue.

VLCC Health Care operates VLCC branded wellness