Wednesday, February 10, 2010

Birla Kerala Vaidyashala To Start 150 Franchises over the next 5 Years.

Yash Birla Group-owned, Birla Kerala Vaidyashala plans to hit the capital markets with its initial sharesale by the middle of next year, a top company official said.

The company, which came into existence with Yash Birla Group acquiring a majority stake in Kerala Vaidyashala last year, plans to file the Draft Red Herring Prospectus with the market-regulator SEBI, BKV's managing director & chief executive officer, Harshajeet Kuroop said.

"We are planning to enter the capital market by mid of next year. We will soon file a Draft Red Herring Prospectus with the SEBI," Kuroop told PTI here. However, he declined to divulge further details about the proposed issue.

The Rs3,000 crore Yash Birla group entered the health and wellness segment with the acquisition of the Kerala-based ayurveda spa chain.

As part of its expansion plans, the company aims to open about 200 therapy centres pan India over the next 5 years with an investment of Rs 50-crore, he said. Presently, it has 20 such centres.

"The centres will be mostly on franchise basis and about 50 of them will be company owned. We will invest over Rs50 crore to open all the 200 centres," Kuroop said.

"These centres will provide treatment for lifestyle disorders and chronic disorders, for which treatment is not available with the conventional medicines," he said. The company today launched the country's first Mobile Spine Clinic in the city, which, it said is the first of its kind in the industry.