VLCC mulling Rs100 cr IPO to fuel growth

VLCC mulling Rs100 cr IPO to fuel growth

Mumbai: Delhi-based wellness firm, VLCC, is mulling an IPO in the next 18 months to fuel its expansion and fund acquisitions, a top company official said.

“We are looking at raising Rs100 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’s founder and chairperson, Vandana Luthra, told PTI in Mumbai on Friday.

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 that the company was eyeing a few major acqusitions in the wellness segment and was 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.

Luthra, however, did not divulge the identities of the companies VLCC was talking to.

The company, which also runs a few education centres, has plans to invest Rs50 crore over the next year to set up five more such centres across India.

Besides, VLCC also has plans to introduce a couple of new products for facial and acne treatment by January next year, she said.

The company is targeting revenues of Rs1,000 crore by 2012, she said, adding, “we are clocking a 30% year-on-year growth in the last five years."

The company is eyeing revenues of 650 crore this fiscal, she said.