Companies

Torrent picks up 75 per cent stake in Puro Wellness

Our Bureau Ahmedabad | Updated on January 16, 2018 Published on October 12, 2016

Invests ₹ 188 cr in the wellness startup of Ruchir Modi

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

The founder, Ruchir Modi, former executive director of Torrent Pharma Ltd has invested ₹ 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 ₹ 250 crore, a statement issued by Puro Wellness informed here.

However, Torrent Group officials could not be immediately reached for comments .

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 three everyday used ingredients, salt, sugar and rice.

A statement released by Modi stated,"This ratification of the Torrent Group will go a long way in helping Puro establish itself in the market place. Our SoLite range of products will help people enjoy a healthy diet without pushing them to change their lifestyle."

Puro plans to focus on a range of innovative products, to help consumers live a healthy life without compromising on quality or taste.

Published on October 12, 2016
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