Mumbai, April 24, 2015: Wellness Forever, a Mumbai-based retail pharmacy chain, has raised Rs. 20 crore from a consortium of investors in exchange for a minority stake in the company.
The investors — high networth individuals and family offices — were led by the Rajiv Dadlani Group, while the promoters also participated by investing further in this round, the company said in a statement.
The funding would be primarily deployed to launch a Zero Error Distribution Centre (ZEDC), a warehousing and logistics facility in Bhiwandi for pharmaceuticals, lifestyle, wellness, and FMCG products.
Backed by this investment, Wellness Forever is also expanding its retail stores to more than 100 outlets from 70 over the next 12 months.
Business Line.
