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TAPPING MARKET: Mr Nikhil Nanda (left), Managing Director, JHS Svendgaard Laboratories Ltd, and Mr Mayank Dalal, Senior Vice-President, Centrum Capital Ltd, announcing the company's IPO in Mumbai on Monday. - Shashi Ashiwal

Mumbai , Sept. 18

JHS Svendgaard Laboratories Ltd, manufacturer of dental and oral healthcare products, has announced its initial public offering of 67 lakh equity shares of Rs 10 each at a price band of Rs 49 to Rs 58 per share. The issue includes promoter's contribution of 5 lakh equity shares and the public offer of 62 lakh equity shares through a 100 per cent book building process.

The issue size is Rs 39 crore at the higher end of the price band and accounts for 49.60 per cent of the fully diluted post issue paid capital of the company.

The issue opens on September 26 and closes on October 4.The companywill use the proceeds of the IPO to set up an integrated manufacturing facility at Kala Amb in Himachal Pradesh and increase its capacity at its 100 per cent Export Oriented Unit in Noida. The plant in Himachal Pradesh will provide location and tax advantage to the company. It will import an anchor free technology enabled machinery to manufacture modern toothbrushes.

The expansion plans will cost the company Rs 51.77 crore, which will partly be financed through the IPO and partly through debt.

Of the total issue, 31 lakh equity shares will be reserved for qualified institutional bidders, 9.3 lakh shares will be allotted to non-institutional investors and retail investors will receive 21.70 lakh equity shares.

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