Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Corporate
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Outlook Markets - IPOs JHS Svendgaard looking to acquire brand Our Bureau
On the prowl The company is scouting for a dental or dental pharma product. Through the IPO, the company will be offloading about 47 per cent equity. Pinning hopes on growing retail market for expansion.
Mumbai , March 9 First-generation entrepreneurial company JHS Svendgaard Laboratories Ltd (JHSSL) is looking to acquire a brand to strengthen its presence in the estimated Rs 4,000-crore domestic oral care market. "We intend to take over a running brand in some time," Mr Nikhil Nanda, Managing Director, told Business Line. He expects to firm up a deal in about three months. The New Delhi-based company is set to tap the capital market with an IPO to raise Rs 50 crore. Of this, about Rs 35 crore will be for the new integrated manufacturing facility at Himachal Pradesh. "The rest will be for contingency and to make a small acquisition," Mr Nanda said. The company is scouting for a dental or dental pharma product, he added. Through the IPO, JHSSL will be offloading about 47 per cent equity, the rest will be with the promoters, he said. The estimated Rs 34-crore company expects to close at Rs 70 crore for the year ended March 2007. Its revenues are equally divided between exports and the local market.
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