Bajaj Corp Limited is planning to raise funds through an IPO and has filed a DRHP with SEBI for the same.

The company plans to issue 4.5mn shares having face value of Rs 5 each that will constitute 15.3% of the post issue paid up capital of the company.

Bajaj Corp plans to utilize the funds for product promotion and acquistions. The company estimates an expenditure of Rs 220cr for product promotion ( to be spent over a period of 3 years) and Rs 50cr for potential acquisitions.

Kotak Mahindra Capital Company Ltd is the sole book running lead manager to the issue.

Source: DRHP

Bajaj Corp Limited is an FMCG company selling hair oils as their main product. It sells the product under the brands 'Bajaj Almond Drops', 'Brahmi Amla', 'Amla Shikakai' and 'Jasmine' Hair Oil. It also produces oral care products under the brand name Bajaj Black Tooth Powder.

The company, incorporated in 2006, is promoted by Bajaj Consumer Care Ltd which is a part of the Shishir Bajaj Group.

The group operates businesses in the fields of consumer goods, sugar, power generation and infrastructure development industries throughout India.

As on 31 December 2009, the company had net worth of Rs 26.23cr and reported a PAT of Rs 56.50cr for the 9 month period. Also the company had declared dividend (including tax) of around Rs 70cr in the same period.

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