The issue, which closes on August 5, will constitute 15.3% of the post-issue paid-up equity capital of company. Issue proceeds will be used for promoting future products and acquisitions & other strategic initiatives. Total estimated expenditure for these objects are Rs 220 crore and 50 crore, respectively.
Bajaj Corp is one of India's leading producers of hair oils. It's a part of Bajaj Group, which operates businesses in the consumer goods, sugar ( Bajaj Hindusthan ), power generation and infrastructure development industries.
Its key product is Bajaj Almond Drops. In addition, it markets hair oil under the brand names Brahmi Amla, Amla Shikakai and Jasmine Hair Oil. It also produces oral care products under the brand name Bajaj Black Tooth Powder. The company manufactures products at two company-operated facilities in Parwanoo and Dehradun.
The promoters of company are Bajaj Consumer Care Limited, Shishir Bajaj, Minakshi Bajaj, Kushagra Bajaj and Apoorv Bajaj. Bajaj Consumer currently holds 100% stake in the company, which will be reduced to 84.75% post issue.
The book running lead manager to the issue is Kotak Mahindra Capital Company Ltd and Karvy Computershare Pvt Ltd is the registrar.
