Wellness Forever raises Rs. 20 cr from a consortium of investors.

Wellness Forever, a Mumbai based retail pharmacy chain has raised Rs. 20 crore in its maiden equity round from a consortium of HNIs (high net worth individuals) and family offices led by Rajiv Dadlani Group for a minority stake in the Company.

The consortium of investors included family offices including Rajiv Dadlani Group, Patni's backed RAAY Global Investments, Thakral Family Companies (Singapore), Allana Group (Middle-East) and others. The promoters have also participated by investing further in this round.

Rajiv Dadlani joins the Board of Directors of the Company representing the HNI Investors and family offices and Amit Patni is an Observer on the Board.

The funding is being primarily deployed towards the launch of India's first ZEDC (Zero Error Distribution Center), a state of the art warehousing and logistics facility in Bhiwandi for Pharma, Lifestyle, Wellness, FMCG products.

Backed by this investment, Wellness Forever is also aggressively expanding its retail stores from 70 to over 100 outlets over the next 12 months across Mumbai as well as key growth markets of Maharashtra like Pune and Nashik coupled with hiring senior talent, technology implementation, and brand and marketing outreach.


BS