VLCC plans to add 70 wellness centres by 2019

Homegrown beauty and wellness company, VLCC is planning its IPO by the fourth quarter of the current fiscal.

Vandana Luthra, Founder, VLCC, said, "Our IPO should have been completed but due to demonitisation our merchant bankers advised us to wait. Now, we are going to file fresh DRHP with the regulator soon. We hope to come out with IPO between November '17 and March '18."

As per the old DRHP, the IPO comprised issue of fresh shares worth Rs 400 crore and an offer for sale of up to 37.67 lakh equity shares by the existing shareholders - Indivision India Partners and Leon International.

Luthra said, "We have a plan to acquire four to five companies - all in wellness space."

The company was eyeing both international and domestic targets.

The company would add some 70 wellness centres and a few institutes in the next two years.

Luthra said that at least three fourth of the wellness industry was controlled by the unorganised sector but with proposed GST in place, the picture was set to change.

She added, "The unorganised sector not paying service tax was always a concern for us but with GST it will help us."