Beauty and wellness firm VLCC Health Care has received market regulator Sebi's nod for initial public offering (IPO). The IPO size for the same will be Rs 700-800 crore. VLCC may launch the IPO around mid-December.
When contacted, VLCC, however, did not comment on CNBC-TV18’s query.
Earlier, the company had withdrawn its IPO in 2016 due to demonetisation.
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.
Founded by Vandana Luthra, VLCC was among the first multi-outlet corporate operations in the wellness and beauty industry, which was at the time mostly composed of individually operated, small scale businesses.
At present, Vandana Luthra and Mukesh Luthra hold 44.35 per cent and 24.37 per cent stake, respectively in the company, Leon International owns 13.65 per cent stake and OIH Mauritius has 5.04 per cent holding in the firm.
The company has created an ecosystem of comprehensive services and products, including wellness programmes, weight management solutions, personal care products, nutraceutical products and skill development training. ICICI Securities, DAM Capital Advisors, IIFL Securities have been appointed as merchant bankers to advise the company on the public issue. The equity shares of the company will be listed on BSE and NSE.
(Edited by : Anshul)
First Published: IST