VLCC Health Care IPO
VLCC IPO – Latest IPO Details, DRHP, Issue Size, Financials and GMP
VLCC Health Care IPO Details
VLCC Health Care Limited is a beauty and wellness company operating across wellness and beauty clinics, personal care products and skill development institutes in beauty and nutrition. The company filed its Draft Red Herring Prospectus with SEBI in August 2021 for a proposed IPO comprising a fresh issue of equity shares aggregating up to ₹300 crore and an Offer for Sale of up to 8,922,672 equity shares. The company had planned to use the fresh issue proceeds for expansion of its wellness clinics and institutes, repayment of borrowings, brand development and digital and information technology infrastructure.
VLCC Health Care IPO Timeline (Tentative)
The VLCC IPO timeline is currently not available because the proposed public issue has not received a publicly announced opening and closing schedule. The company's 2021 DRHP was filed with SEBI, but the IPO dates, allotment date, refund date, demat credit date and listing date were not specified in the available documents. Accordingly, the timeline dates are left blank until an updated IPO schedule is officially announced.
| Event | Tentative Date |
|---|---|
| IPO Opens | |
| IPO Closes | |
| Basis of Allotment | |
| Refund Initiation | |
| Credit of Shares to Demat | |
| Listing Date |
VLCC Health Care IPO Lot Size
The VLCC IPO lot size and minimum application amount have not been disclosed in the available DRHP. The IPO price band was also not specified in the draft document, with the issue proposed as a 100% book-built offer. Therefore, the application lots, number of shares and investment amount are left blank until the final price band and lot size are announced.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | |||
| Retail (Max) | |||
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) |
VLCC Health Care IPO Reservation
As disclosed in the proposed IPO structure, the investor reservation was expected to follow a 75% QIB, 15% NII and 10% Retail allocation structure. The price band and corresponding valuation multiples were not disclosed in the available DRHP.
VLCC Health Care IPO Subscription
The VLCC IPO subscription figures are currently not available because the proposed IPO has not opened for public bidding. Category-wise subscription data for QIB, NII and Retail investors will become available only after the issue opens. The subscription table is therefore left blank.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About VLCC Health Care
VLCC Health Care Limited was incorporated in 1996 and operates an integrated beauty and wellness business. Its business model comprises VLCC branded Wellness & Beauty clinics, VLCC branded personal care products and VLCC Institutes for skill development in beauty and nutrition. The company was founded by Vandana Luthra and has developed its operations across India and international markets. As of March 2021, the company served customers across 310 locations in 143 cities and 12 countries across South Asia, Southeast Asia, the Gulf Cooperation Council region and East Africa.
The company's Wellness Clinics business provides beauty, wellness, weight management and related services. Its Personal Care Products business includes skincare, haircare and body-care products, while the VLCC Institutes provide training and skill development courses in beauty and nutrition. The DRHP stated that the company had 191 Wellness Clinics in India spread across 106 cities as of March 2021, with 118 personal care products marketed in India.
Strengths
- Established VLCC brand with a long operating history in the beauty and wellness industry.
- Integrated business model covering wellness clinics, personal care products and vocational education.
- Presence across India and international markets.
- Large network of wellness clinics and skill development institutes.
- Established consumer base and experience across beauty and wellness services.
- Experienced promoters and management team.
Risks to Consider
- The company operates in competitive and fragmented beauty, wellness and personal care markets.
- Expansion through new wellness centres, institutes and products depends on successful execution and availability of suitable locations.
- International operations expose the business to legal, regulatory, economic and social risks across different markets.
- The company has historically reported losses, including losses in FY2019 and FY2020.
- Changes in consumer preferences and competition from local, regional and organised players may affect business performance.
- Contingent liabilities and other obligations may affect financial condition if they materialise.
VLCC Health Care Financials (₹ Cr)
The available IPO-era financial information shows that VLCC Health Care reported revenue from operations of ₹532.92 crore and net profit of ₹6.24 crore in FY2021. The company had reported a loss in each of FY2020 and FY2019. The financial information below is based on the financial data disclosed in connection with the proposed IPO.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2021 | ₹532.92 Cr | ₹6.24 Cr | ₹692.32 Cr | ₹70.97 Cr |
| FY2020 | ₹769.57 Cr | -₹15.31 Cr | ₹751.34 Cr | ₹66.10 Cr |
| FY2019 | ₹852.43 Cr | -₹52.71 Cr | ₹812.21 Cr | ₹73.22 Cr |
KPIs & Valuation
The IPO-era DRHP disclosed basic EPS, RoNW and NAV figures for the relevant financial years. Since the price band was not disclosed, P/E and price-to-book valuation figures cannot be calculated from the available IPO information.
Objects of the Issue
The company proposed to utilise the net proceeds from the fresh issue for the following purposes:
- Setting up VLCC Wellness Clinics in India and the Gulf Cooperation Council region, VLCC Institutes in India and refurbishment of certain existing VLCC Wellness Clinics in India and the GCC region — approximately ₹83.24 crore.
- Repayment and/or prepayment of certain borrowings — approximately ₹66 crore.
- Investment in brand development — approximately ₹30.80 crore.
- Investment in digital and information technology infrastructure — approximately ₹40 crore.
- General corporate purposes.
Promoters, Lead Managers & Registrar
VLCC Health Care's promoters were Vandana Luthra and Mukesh Luthra. The proposed IPO appointed ICICI Securities Limited, DAM Capital Advisors Limited and IIFL Securities Limited as the Book Running Lead Managers, while KFin Technologies Private Limited was appointed as the Registrar to the Offer.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Private Limited |
|---|---|
| Phone | +91 40 6716 2222 |
| vlcchealthcare.ipo@kfintech.com | |
| Website | www.kfintech.com |
VLCC Health Care IPO Review
VLCC Health Care Limited has an established presence in India's beauty and wellness industry, with operations spanning wellness and beauty clinics, personal care products and institutes for skill development in beauty and nutrition. According to the company's DRHP, VLCC had served customers across 310 locations in 143 cities and 12 countries as of March 2021. Its integrated business model combines services, products and education under the VLCC brand, giving the company multiple operating segments within the broader beauty and wellness market.
The proposed IPO comprises a fresh issue of up to ₹300 crore along with an Offer for Sale of up to 8,922,672 equity shares. The fresh issue proceeds were proposed to be used for expansion of wellness clinics and institutes, refurbishment of selected facilities, repayment or prepayment of borrowings, brand development and digital and information technology infrastructure. The proposed issue was structured as a 100% book-built offer, with ICICI Securities, DAM Capital Advisors and IIFL Securities acting as the book running lead managers.
From an IPO information perspective, several important parameters remain unavailable in the currently accessible public record, including the final price band, issue opening and closing dates, lot size and final valuation. The company had received SEBI clearance in 2021 and reports at the time indicated a possible December 2021 launch, but the proposed issue did not proceed to a completed listing based on the available information. Therefore, investors should distinguish the historical DRHP terms from any future IPO announcement or revised offer document.
How to Apply
Investors can apply for an IPO through UPI using a supported broker or through the ASBA facility offered by participating banks. For a future VLCC IPO, applicants would need to use the final issue details announced by the company and exchange, including the price band, lot size and investor category. The exact VLCC application details are currently unavailable because the proposed IPO has not opened for subscription.
Through UPI
- Open your IPO-enabled trading or investment application.
- Select the IPO section and choose VLCC IPO when the issue becomes available.
- Select the appropriate investor category.
- Enter your UPI ID linked to your own bank account.
- Enter the required quantity based on the final VLCC IPO lot size.
- Enter the bid price within the announced price band or select the cut-off option, if applicable.
- Review the application details and submit the IPO bid.
- A UPI mandate request will be sent to your UPI application.
- Open your UPI application and approve the mandate.
- Ensure sufficient funds remain available in the linked bank account until the allotment process is completed.
- If shares are allotted, the applicable amount is debited and the shares are credited to the demat account.
- If no shares are allotted, the blocked funds are released according to the applicable IPO process.
Prospectus & Documents
The VLCC Health Care DRHP was filed in August 2021. The document describes the proposed fresh issue of up to ₹300 crore and Offer for Sale of up to 8,922,672 equity shares.
Last updated Sep 29, 2026.