mumbai/new delhi, Aug. 30 -- 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 Sun Pharma, 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 could not independently verify the potential bidders. "The transaction is currently undergoing due diligence. HUL may also look to exit, but they have the right of first refusal and will take a decision based on demand from the other suitors," one of the people cited above said. An HUL spokesperson said, "We acquired a minority stake in Wellbeing Nutrition with a science-backed, benefit-led product portfolio. The brand is doing well and is scaling up fast. We would not like to comment on any market speculation." A Dabur spokesperson said, "We keep evaluating companies from an M&A perspective in the regular course of our business, but we cannot comment on any specifics or market rumours."...