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Beauty salon chain Jawed Habib Hair and Beauty filed its draft red herring prospectus for its Rs 60-crore initial public offering on Tuesday. This is probably the first hair dressing company to approach the Indian capital markets with a public issue.
The company will use the funds from the issue for acquisition of brands as well as software, for brand building and for expansion of the chain. Besides hair and beauty care salons, (run by self-owned and franchised outlets), the company also runs academies for hair styling and beauty. Jawed Habib has over 180 salons and 40 academies across India, according to the company Web site.
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