MUMBAI: VLCC Health Care Ltd has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue equity shares worth Rs300 crore and an offer for sale (OFS) of up to 8.92 million shares by promoters and shareholders. The OFS will see sale of up to 1.88 mln shares by Mukesh Luthra, up to 1.90 mln by OIH Mauritius, and up to 5.14 mln shares by Leon International. The proceeds from the issue worth ₹83.24 crore will be used to set up VLCC Wellness clinics in India and Gulf Cooperation Council (GCC) region, VLCC Institutes in India and refurbishment of certain existing VLCC Wellness clinics in India and GCC region. In FY21, total income stood at Rs565.24 crore against Rs775.02 crore a year ago.

Source: Mint August 14, 2021 08:15 UTC