Grapevine: Wellness Forever to float this year; Rapido looking to raise funding
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Grapevine: Wellness Forever to float this year; Rapido looking to raise funding

By Ankit Agarwal

  • 27 Apr 2021
Grapevine: Wellness Forever to float this year; Rapido looking to raise funding
Credit: Mukul Mudgal/VCCircle

Wellness Forever, an omnichannel retail pharmacy chain, is looking to raise up to Rs 1,200 crore in an initial public offering (IPO), a Mint report said citing two people aware of the development.

“This will be the first pharmacy retail chain to list on the Indian stock exchanges,” said one of the two persons cited above.

“The company has already appointed investment banks and will look at going public within this calendar year,” he added.

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The proposed IPO will be a mix of primary and secondary share sales, said the second person.  

In November, Wellness Forever had raised Rs 130 crore from Allana Group and Adar Poonawalla, CEO at vaccine maker Serum Institute of India Pvt. Ltd.

Rapido

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Bike taxi and logistics startup Rapido is looking to mop up $50 million in a fresh round from new and existing investors, three sources aware of the details of the deal told Entrackr.  

“Rapido has already raised $30 million from WestBridge Capital while $20 million more has been committed by new and existing investors including Nexus Venture Partners and Motherson,” said one of the sources.

Rapido had previously raised $55 million in its Series A round led by WestBridge in August 2019.

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New investors BAce Capital and Shunwei Capital as well as existing investor Nexus Venture Partners also participated in that round.

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