Everstone to exit from VLCC

May sell stake for Rs 350 crore

Private equity firm Everstone Capital plans to sell out its 15 percent stake in VLCC Healthcare Ltd. As per the industry sources, the company has requested investment bank Equirus Capital Pvt Ltd to locate new buyers. The company could sell out the stake in Rs 350 crore. However, the company had acquired the VLCC stake, which runs slimming centres, for Rs 50 crore back in 2007.

Everstone has also acquired an undisclosed stake in Bangalore-based R&R Salons Pvt. Ltd, which runs the YLG salon chain. Venture capital firm Helion Venture Partners incubated R&R Salons and invested Rs 20 crore in it in 2009.

According to an August study conducted by industry lobby group, wellness industry in India is expected to grow to around Rs 1 trillion by 2015 at a compounded annual growth rate of 15-17 percent from about Rs 70,000 crore in 2012,