Ustraa’s Rs 250 crore deal with VLCC also took some by surprise because The Good Glamm Group had put around Rs 490 crore on the table to acquire Ustraa last year, sources told Moneycontrol. The deal did not materialise because of internal reasons, they added.
Vandana Luthra and Mukesh Luthra hold 44.35 per cent and 24.37 per cent stake, respectively in VLCC, while Leon International owns 13.65 per cent stake and OIH Mauritius has 5.04 per cent holding in the firm.