The Signature of Beauty and Welfare VLCC, medical care, has refilled the draft of the Red Herring prospect with the sebi capital market regulator on August 13 to raise funds through an initial public offering (OPI).
Previously, the company had withdrawn its IPO in 2016 due to demonstration. According to the times of India, again canceled the IPA plans in 2019 due to the elections of Lok Sabha.
The initial public offering includes a new issue of RS 300 crore by the company and an offer on sale of 89,22,672 capital shares by promoter and investors.
Promoter Mukesh Luthra Offloading 18,83,414 capital stock, while investors Oih Mauritius and Leon International will seek to leave the company selling all its participation of 18,97,540 (5.04 percent of prior equity prior to supply) and 51, 41,718 Capital shares (13.65 percent of paid equity prior to supply).
The company and the sale of shareholders, in consultation with commercial bankers, can consider a private placement of RS 100 million rupees, and if such placement will be performed prior to the RHP with ROC, the size will be reduced of fresh emission.
VLCC will use the net profits of the new problem to configure the VLCC wellness clinics in the India and GCC region, and the VLCC institutes in India. It will also implement capital to renew certain VLCC welfare clinics existing in the India and GCC region, reimburse the debts, investing in the development of the brand, investing digital and informative technology infrastructure and general corporate purposes.
Promoters: Vandana Luthra and Mukesh Luthra, together contain a participation of 68.72 percent in the company. Together with the promoter group, its total participation reaches 82.38 percent.
Founded by Vandana Luthra as a beauty and weight management services center in 1989, VLCC Health Care was constituted in 1996 and has been building a strategic business model integrated into three central businesses: VLCC brand welfare and beauty clinics. VLCC brand personal care products and VLCC brand institutes for the development of beauty and nutrition skills.
It is one of the largest players in the welfare and beauty services industry in India, with the broader footprint of the clinics operated by the company, which serves customers at 310 locations in 143 cities and in 12 countries in the south From Asia, Southeast Asia, Gulf Cooperation Region of the Council (C GCC region) and Eastern Africa, as of March 2021.
It is expected that the Indian welfare and beauty industry grows up in a 10-12 percent CAGR in the next five years and is expected to reach $ 40-42 billion by FY25.
The industry is experiencing a rapid change of non-organized to organized. It is expected that the organized sector grows its market share at around 30-35 percent in FY25 approximately 25-30 percent in FY20.
The company’s focus on the delivery of the service and the commitment of customers during the Covid-19 pandemia has helped it improve the sales of repeated customers, which grew from 50.6 percent in fiscal year 20 to 60.5 percent In fiscal year21 for wellness clinics in India. As a result, they reported a gain of RS 6.24 Crore in RS income 532.92 million rupees in financial year ended March 2021.
However, he had informed a loss of RS 15.31 crore in RS $ 769.57 million rupees at FY20 against a loss of RS 52.7 Crore in RS 852.43 million rupees in the fiscal year.
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