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VLCC files IPO papers with SEBI
August 17, 2021
VLCC Health Care Ltd, one of the biggest homegrown beauty and wellness organizations in India, has filed preliminary papers with market regulator Sebi to raise funds through an initial share sale. The initial public offer (IPO) involves new issuance of value shares worth ₹300 crores and an offer for sale (OFS) of 89.22 lakh equity shares by the promoter and existing shareholder, as per draft red herring prospectus.
The OFS includes an offer of up to 18.83 lakh equity shares by promoter Mukesh Luthra, up to 18.97 lakh equity shares by OIH Mauritius Ltd, and 52.42 lakh equity shares by Leon International.
As of now, Vandana Luthra and Mukesh Luthra hold 44.35 percent and 24.37 percent stake, individually in the organization, Leon International owns 13.65 percent stake and OIH Mauritius has 5.04 percent holding in the firm.
Funds raised through the new issuance of shares will be utilized for setting up VLCC Wellness Clinics in India as well as Gulf Cooperation Council (GCC) region, and VLCC Institutes in India.
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