VLCC Health Care raises Rs. 37Cr from Zall Holdings
VLCC Health Care Ltd recently raised Rs. 37 crore in funding by selling shares to Bahamas-based Zall Holdings Ltd. about 6,27,804 equity shares have been issued to the latter.
The beauty and wellness company VLCC plans to utilise the capital raised to ensure working capital requirements and expand its business as well as that of its subsidiaries.
The company’s shareholders approved the allotment on September 27, during a meeting.
In August, VLCC Health Care Ltd. filed the draft papers required for an initial public offering to the Securities and Exchange Board of India (SEBI). The IPO will comprise a fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.22 lakh equity shares by the promoter and existing shareholders.
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