Ankurit Capital, an alternative investment fund said it has picked up 7.71% stake in Deccan Healthcare Ltd. which is into nutraceutical and cosmeceuticals segments.
Deccan Healthcare has allotted 13.30 lakh equity shares at ₹37.60 per share as part of its preferential issue.
Minto Purshotam Gupta, chairman and managing director said, “We would utilise 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, the company would continue to increase its footprint in offline stores and expand into international markets in UAE and USA, he said.
“We are currently exploring placing our products in 600 retail stores in the USA which is the largest market in our segment,” he added.
Ntasha, Co-Founder & Managing Partner, Ankurit said “Deccan Healthcare is a leading player in the nutraceuticals and cosmeceuticals space and more than 90 established products are already available online.”
“We are investing to support their transformation to a digitally powered D2C brand,” she said.