VLCC mulling Rs 100 cr IPO in next 18 months

MUMBAI: Delhi-based wellness firm, VLCC, is planning an IPO in the next 18 months to raise Rs 100 crore in order to fuel expansion and fund acquisitions, a top company official said.

"We are looking at raising Rs 100 crore through an Initial Public Offering (IPO) to expand our existing network and at the same time acquire a few companies in the wellness segment," VLCC Founder and Chairperson Vandana Luthra told PTI here today.

The company, which had earlier deferred its IPO plan due to the economic slowdown, proposes to add 100 more wellness centres to its existing network of 225 across India, the middle-east and Nepal over the next 18 months.

Of the 225 centres, 215 are in India, while 19 are across the UAE, Oman, Bahrain and Nepal.

Luthra said the company is eyeing a few major acquisitions in the wellness segment and is in talks with three companies in south India, Dubai and Singapore.

"We are in talks with some mid-sized companies across India, Singapore and Dubai. We are likely to ink a deal with a Dubai-based company early next year," she said.