Torrent invests Rs. 188 cr in wellness start-up – Feedback

Puro Wellness, a Mumbai-based healthcare player – promoted by former top official of Torrent Pharma, on Wednesday announced that the promoting holding company Torrent Ltd has picked up 75 per cent stake in the start-up for Rs. 188 crore, a statement said.

The founder, Ruchir Modi, former executive director of Torrent Pharma Ltd has invested Rs. 62 crore and holds 25 per cent stake in the company. Sudhir Mehta-promoted Torrent Group, through its arm Torrent Ltd will now own 75 per cent in the new venture, which will have a total seed funding of Rs. 250 crore, a statement issued by Puro Wellness informed here. Torrent Group officials could not be immediately reached for comments despite repeated attempt. Puro Wellness has its main focus on producing organic food ingredients targeting people to enjoy a healthy diet without altering their lifestyle or taste. Puro plans to launch its SoLite range of products, which will start with daily used ingredients, salt, sugar and rice.

http://www.thehindubusinessline.com/todays-paper/tp-news/torrent-invests-rs-188-cr-in-wellness-startup/article9212608.ece

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *