Veerhealth Care, a provider of ayurvedic, herbal and cosmetics healthcare and personal care products under the brand “Ayuveer”, announced its expansion plans with a proposed investment of ₹33 crores. This investment encompasses various aspects including the acquisition of land, construction of buildings, procurement of plant and machinery, and development of essential infrastructure.
To facilitate this expansion, VeerHealth Care will be raising ₹8 crores through bank borrowings. Additionally, the Board of Directors has approved a move to issue new equity shares to further bolster financial resources.
VeerHealth Care will issue 99,99,238 new equity shares at ₹25 per share including a premium of ₹ 15/- per share. This right Issue is offered in the ratio of 1:2 i.e. one equity share is offered for every two shares held by existing shareholders including promoters in the company.