Ankurit Capital, an alternative investment fund, has bought a 7.71 per cent stake in Deccan Healthcare, a leading nutraceutical and cosmeceutical products company. The company has allotted 13.30 lakh equity shares at Rs 37.60 per share to the fund as part of the preferential issue.

The global nutraceuticals market is valued at $455 billion and is expected to expand to $991 billion by 2030. India accounts for only 2 per cent, with opportunity for growth driven by preventive care and post-pandemic awareness of wellbeing among youngsters.

India is home to 52 different agro-climatic zones. The country has access to a vast array of medicinal plants, giving a varied range of natural nutraceutical compounds. Deccan’s product line of nutraceutical and cosmeceutical products is diverse, with over 1,600 proprietary blends, all sourced locally and organically in India.

Minto Purshotam Gupta, Chairman and Managing Director said the company will use the proceeds from the preferential issue to fund digital transformation into gamified health and wellness for the millennials.

"We would continue to increase our footprint in offline stores and expand into international markets in the UAE and the US. We are currently exploring placing our products in 600 retail stores in the US, which is the largest market in our segment," he added.

Ntasha, Co-Founder and Managing Partner, Ankurit said Deccan Healthcare is a leading player in the nutraceuticals and cosmeceuticals space and has over 90 established products are already available online.

"We are investing to support their transformation to a digitally powered D2C brand. They have proprietary products and an R&D set-up to develop both cosmeceutical and nutraceutical products made from organic and natural ingredients sourced from wild plants growing deep in the jungles, which also helps support the tribals and adivasis," he added.

The global market for combating senescence - the process of deterioration with age - is estimated to be over $270 billion and Deccan Healthcare is a leader in this space.

Dipti Lavya Swain, founder and managing partner at DLS Law Offices, was the legal advisors to the investment.