VLCC Health Care files IPO papers with Sebi
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VLCC Health Care has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for 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.
Funds raised through the fresh issuance of shares will be used for setting up VLCC Wellness Clinics in India as well as Gulf Cooperation Council (GCC) region, and VLCC Institutes in India. In addition, proceeds would be utilized for refurbishment of certain existing VLCC Wellness Clinics in India and GCC region, brand development, investment in digital and information technology infrastructure and payment of debt. ICICI Securities, DAM Capital Advisors, IIFL Securities have been appointed as merchant bankers to advise the company on the public issue.
VLCC Health Care operates VLCC branded wellness and beauty clinics and VLCC branded institutes for skill development in beauty and nutrition. It also manufactures and sells VLCC branded personal care products.
