VLCC Health Care Ltd, one of the leading beauty and wellness companies in the country, has got SEBI’s permission to float an IPO. It might launch the IPO by December end issuing equity shares worth Rs 300 crore as well as an offer for sale (OFS) of 89.22 lakh equity shares given by the existing shareholders and promoters. Mukesh Luthra, a promoter, will sell up to 18.83 lakh equity shares while OH Mauritius Ltd and Leon International will sell up to 18.97 lakh and 52.42 lakh equity shares respectively. The funds raised will be used to set up new VLCC clinics in India and the GCC region, along with VLCC Institutes in India. The revenue will also be used to revamp the existing clinics, to develop the brand, and to invest in digital and information technology infrastructure along with debt payments.
