USV acquires around 79% stake in Wellbeing Nutrition at ₹1,583 crore valuation

Mumbai/Bengaluru: Multinational pharmaceutical and biotechnology company acquires USV Private Ltd Approximately 79% stake in nutraceutical company Wellbeing Nutrition in an all-cash deal, valuing the company at: ₹1,583 crore, the companies said on Thursday.

Co-founder Avnish Chhabria said the deal will help Wellbeing deepen its presence in physician- and pharmacy-led channels Mint. “We needed a pharmaceutical partner with deeper access to doctor and pharmacy networks to strengthen retention and repeat consumption and make the business increasingly prescription-focused,” Chhabria said.

The transaction marks the exit of early backers Fireside Ventures and Hindustan Unilever, which collectively hold a 40% stake in the company. USV acquired approximately 35% stake from Chhabria and approximately 44% stake from existing shareholders.

In the statement made by the companies on Thursday, it was stated that Chhabria, who had a 50 percent share before the transaction, will hold a 15 percent share until March 2028, and the current management together with co-founder Saurabh Kapoor will continue to run the business under the supervision of the board of directors.

Kotak Mahindra Capital acted as financial advisor for the deal.

The deal underscores a broader shift in India’s nutraceutical market, where scale is increasingly tied to medical reliability and pharmacy distribution rather than just digital access.

In August, Mint first reported that USV, among others, was interested in Wellbeing Nutrition and valued the company. ₹1,500 crore and ₹1,600 crore.

Scaling the brand

Chhabria said that under the mentorship of FMCG giant Hindustan Unilever Ltd (HUL) and early-stage consumer investor Fireside Ventures, Wellbeing has managed to scale its strengths in retail, especially on flash commerce platforms such as Blinkit and Zepto, and has grown 5x in the last six months alone.

“Our distribution is structurally different from most consumer brands. Pharmacies account for more than 55% of our revenue, with approximately 15% coming from physician prescriptions rather than general merchandising,” Chhabria said.

This deal puts USV under majority ownership of the nutraceutical brand, which it plans to scale beyond its premium and D2C-led growth model.

Wellbeing Nutrition plans to expand its presence in the fast-growing GLP-1 segment, with a particular focus on oral formats, as therapy moves beyond injectable drugs. The company also sees an opportunity to create complementary, science-based products around metabolic health, Chhabria said. “Management [of injectibles] is a challenge for most consumers. If we can facilitate oral consumption, there will be a huge market for us,” said Chhabria.

With USV’s regulatory expertise, clinical capabilities and physician network, Wellbeing expects to advance in this space with greater credibility and scale.

This transaction will also help USV double its focus on the preventative and lifestyle-focused wellness segment. Founded nearly six decades ago, USV has strong leadership in diabetes and heart care and is also looking to advance its next phase of growth with plans to enter the innovative GLP-1 therapeutic segment. It includes brands such as Glycomet GP, Ecosprin and Roseday.

“This acquisition aligns strongly with our strategy to build a forward-looking healthcare portfolio that responds to the changing desires of Indian consumers,” said USV Managing Director Prashant Tewari. “Their success across channels, particularly through their own platforms and world-class, clinically supported portfolio, positions us well to accelerate growth.”

India’s nutraceutical market was valued at $8 billion by 2024 and is growing at a CAGR of 11%, according to estimates by global management consulting firm Kearney.

Health and wellness continues to be a big opportunity in India, despite being lower than the index, HUL said in its third-quarter earnings call on Thursday. The FMCG giant, which also supports nutraceutical products manufacturer Oziva, said that it will purchase the remaining 49% of the brand’s shares. ₹824 crore despite selling his entire stake in Wellbeing Nutrition.

HUL CEO and MD Priya Nair said in the post-earnings press conference: “Overall, health and wellbeing is a huge opportunity in India, it is very under-indexed and there is huge headroom for growth.” “We have acquired 100% of OZiva. We will double down and build the brand.”