Ankurit Capital, an alternative investment fund, has acquired a 7.71 percent stake in Deccan Healthcare, a leading company in nutraceuticals and cosmetics. The company has allotted 13.30 lakh shares at Rs 37.60 per share. share to the fund as part of the rights issue.
India is home to 52 different agro-climatic zones. The country has access to a wide range of medicinal plants that provide a varied selection of natural nutritional compounds. Deccan’s product line of nutraceutical and cosmetic products is diverse with over 1,600 proprietary blends, all sourced locally and organically in India.
Minto Purshotam Gupta, Chairman of the Board and CEO, said the company will use the profits from the preferential issue to fund digital transformation for gamified health and well-being in millennials.
“We will continue to increase our footprint in offline stores and expand into international markets in the UAE and the United States. We are currently exploring to place our products in 600 retail stores in the United States, which is the largest market in our segment,” he added.
Ntasha, co-founder and managing partner, Ankurit said that Deccan Healthcare is a leading player in nutraceuticals and cosmeceuticals and has over 90 established products already available online.
“We are investing to support their transformation into a digitally-driven D2C brand. They have proprietary products and an R & D set-up to develop both cosmetic and nutraceutical products made from organic and natural ingredients sourced from wild plants that grow deep inside in the jungle, which also helps support the tribes and adivasis, “he added.