Health and wellness product and services firm VLCC Health Care Ltd has named Sanjay Kapoor as an independent director on its board even as it waits in the queue for its proposed initial public offer (IPO).
Kapoor was previously chairman of Micromax, one of the largest Indian handset makers. Kapoor, who joined Micromax in June 2014, stepped down from his position recently.
“The wellness space has intrigued me as it is good for the wellbeing of the consumers and our country at large,” Kapoor said.
Kapoor, who has three decades of corporate experience, began his career with Jay Engineering Works Ltd in 1983, and later worked with Xerox India, PVR Ltd, Indus Towers and Bharti Airtel.
Till early 2013, he was CEO of Bharti Airtel’s India operations. He had resigned after serving nearly 14 years at the firm but held some leadership positions at the Bharti Group till mid-2013.
Kapoor holds a bachelor’s degree in Commerce (Hons.) from Delhi University, an MBA from Cranfield School of Management (the UK), and is also a graduate of The Wharton Advanced Management Programme.
Founded by Vandana Luthra as a beauty and slimming services centre in 1989, Delhi-based VLCC Healthcare is serving consumers across 301 locations in 134 cities and 11 countries in South Asia, Southeast Asia, the GCC Region and East Africa.
The company has operations in India, Sri Lanka, Bangladesh, Nepal, Malaysia, Singapore, Thailand, UAE, Oman, Bahrain, Qatar, Kuwait, Saudi Arabia and Kenya. It operates 187 wellness centres in India and 49 in 10 other countries.
In September, the company filed its papers with SEBI for IPO. It is looking to raise Rs 400 crore through a fresh issue of shares. The offer also includes an offer for sale by its promoters as well as existing private equity investor Everstone.