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Company allots 13.30 lakh equity shares on preferential basis
Ankurit Capital, SEBI regulated alternative investment fund, picks 7.71% stake in Hyderabad-based Deccan Healthcare, a leading nutraceutical and cosmeceutical products company. The company has allotted 13. 30 lakh equity shares at Rs. 37.60 per share to the fund as part of their preferential issue.
Deccan’s product line of nutraceutical and cosmeceutical products is diverse, with over 1,600 proprietary blends all sourced locally and organically in India.
Commenting on the development Dr Minto Purshotam Gupta, Chairman and Managing Director said, “We would utilize the proceeds from the preferential issue to fund our digital transformation into gamified health and wellness for the millennials. We will continue to strengthen our brand position online and build a strong community for organic growth and become a dominant D2C player in the segment.
In addition, we would continue to increase our footprint in offline stores and expand into international markets in UAE and USA. We are currently exploring placing our products in 600 retail stores in the USA which is the largest market in our segment.”
Dipti Lavya Swain, founder and managing partner at DLS Law Offices, was the legal advisor to the investment.
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