VLCC gets Dh45mln investment from Future Capital Holdings' fund

Dubai, Feb 2 (UNI) VLCC has announced that Indivision India Partners, a private equity fund promoted by Future Capital Holdings, has invested 45 million dirham in the group.

The investment, structured in the form of convertible debentures, has been earmarked for funding the expansion of new VLCC centres in West Asia and India.

The money will also be used for funding the growth plans of the company's subsidiary, VLCC Personal Care, which is engaged in manufacturing and marketing herbal personal-care products.

VLCC Health Care Ltd Chairman and Managing Director Mukesh Luthra said the company plans to be a 300-centre strong firm in the next three years with a significant presence in West Asian and other international markets.

He added VLCC has been pioneers in creating a viable and sustainable business model in the health and beauty domain, which till recently was not even recognised as a business category.

The investment will go a long way in contributing to VLCC plans to become a 900 million dirham company by 2010, which has become one of West Asia's premier scientific weight management companies, he said.

UNI