VLCC Health Care Ltd, one of the largest homegrown beauty and wellness companies in India, has filed preliminary papers with markets regulator Sebi to raise funds through an initial share-sale. The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 300 crore and an offer-for-sale (OFS) of 89.22 lakh equity shares by promoter and existing shareholders, according to draft red herring prospectus.