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| VLCC to hit capital market within 18 months |
| BS Reporter / Kolkata/ Bhubaneswar May 13, 2010, 00:10 IST |
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VLCC Group of Companies, known for its slimming services and wellness products, has decided to come out with its Initial Public Offer (IPO) within 18 months. The size of the IPO, however, is yet to be worked out.
Vandana Luthra, founder and mentor, VLCC Group of companies, said, “We will be coming out with an IPO within 18 months. All I can say at the moment is that our issue size will be fairly big.”
VLCC which clocked a pan-India turnover of Rs 700 crore in the last fiscal from all its business verticals, expects to achieve a turnover in excess of Rs 1000 crore by the end of 2011-12. The VLCC Group operates in three areas- Slimming, Skin & Hair Services; Education and Training Institutes and Manufacturing and Retailing of Personal Care Products.
It is also looking to ramp up its presence significantly both within the country and in the overseas markets.
“In the next three months, we will be rolling out our centres in Riyadh, Kuwait, Egypt and UK. VLCC will foray into the US market in the next 2-3 years. All these overseas centres will be owned and run by VLCC”, Luthra stated.
Presently, VLCC has 14 centres in the international market, including 10 centres in the UAE, two centres in Oman and one each in Bahrain and Nepal.
In the domestic market VLCC has more than 200 centres across 90 cities of the country. It aims to expand further by opening 25 more centres in the eastern region, including one in Bhubaneswar by the end of 2010-11.
VLCC will also add 50 more training institutes in the country by the end of the current financial year, taking its network of such institutes to more than 100.
VLCC has a staff strength of nearly 8000 and 75 per cent of them are experienced specialists including doctors, nutritionists, psychologists, cosmetologists and physiotherapists. It has served over 10 million customers since its inception.
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