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Hair oil producer Bajaj Corp Ltd has informed the market that the Draft Red Herring Prospectus in respect of Proposed Initial Public Offer (IPO) of the Company of 45 lakh equity shares of Rs 5 each has been filed with the market regulator SEBI. This is 15.3% of existing paid up capital.

Bajaj Corp is a part of the Shishir Bajaj Group of companies engaged in the business of producing and selling of Bajaj Almond Drops, Brahmi Amla and Jasmine Hair Oil brands. It also produces oral care products under the brand name Bajaj Black Tooth Powder.

The IPO proceeds would be used for product expansion, acquisitions and other strategic initiatives. The price range of the IPO has not yet decided by the company and the IPO will be through a 100 per cent book building process.

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

The sole book running lead manager to the issue will be Kotak Mahindra Capital Company Ltd.

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