New Delhi, Aug. 29 -- Wellbeing Nutrition, backed by Hindustan Unilever (HUL) and Fireside Ventures, has been put on the block, with the company likely to see a strategic acquisition. The deal could value the company at around Rs.1,500-1,600 crore and top pharma and FMCG players have been approached, multiple people in the know said.

"It will be a strategic sale as the company has reached a good scale. Kotak is running the process and top pharma and FMCG companies have been sounded out," one of these people said.

Top companies such as Sunpharma, USV Pvt Ltd, Alkem Laboratories Ltd, Dabur, Nestle, Reckitt, ITC, Torrent and Cipla Consumer have been approached and the bids are due next month, three of the people cited above said. Mint coul...