IPO
Nutrition and wellness platform HealthKart to go for $400-M IPO
Gurugram-based HealthKart plans to initiate an initial public offering (IPO) aimed at raising USD 300-400 million. The transaction is expected to involve a combination of a fresh capital raise and a secondary share sale by existing investors.Founded in 2011 by Sameer Maheshwari and Prashant Tandon, HealthKart operates a nutrition platform featuring digital-first brands including MuscleBlaze, HK Vitals and Gritzo. The firm sells proteins, dietary supplements and children’s nutrition products and maintains a physical presence through over 200 stores across more than 90 cities.The company intends to use the proceeds from the IPO to support growth and market expansion.In 2024, the company executed a USD 153 million secondary funding round and an employee stock option buyback valued at INR 55 crore. For FY25, the firm reported an operating income of INR 1,312.61 crore, compared to INR 1,021.03 crore in the previous year, with profits increasing to INR 119.98 crore.
Between Oct 2011 and Nov 2024, Healthkart had attracted about USD 378 M from Kae Capital, Peak XV Partners, Omidyar Network, Intel Capital, A91 Partners, ChrysCapital, Motilal Oswal Alternates, NEO Alternative Asset Managers and others.For FY25, Healthkart had reported about INR 1,311 Cr in Operating Income and about INR 124 Cr in PAT.
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