Blackmores is raising $117m through Goldman Sachs to strengthen its balance sheet.
The funds will also be used to fund Asian growth initiatives.
The company will secure $92m through a placement and $25m through a share purchase plan.
Shares are being sold at $72.50, an 8.1 per cent discount to their last closing price of $78.85 on Tuesday.
Namesake Marcus Blackmore and the Blackmore Foundation will not take part in the equity raise, but say they are still committed as long term shareholders.
Macquarie Asset Management on buying spree in New Zealand
Fresh from striking a $24bn deal to sell the Airtrunk data centre giant it co-owned, Macquarie Asset Management is understood to have turned its attention to New Zealand
Roc stays abreast of potential $1bn chicken play
Poultry business ProTen is on the block through its owner Aware Super and Roc Partners is in prime position to snap it up for up to $1bn.