MUMBAI (Commodity Online): Bajaj group’s FMCG arm and leading hair oil maker, Bajaj Corp Limited will hit the capital markets on 2nd August, 2010 as the company proposes to expand its presence in the personal care products via increased promotion and strategic acquisitions.

The Price Band for the issue has been fixed at Rs.630 to Rs.660 per share of the face value of Rs.10 each. Company aims to raise Rs.270 crore via public offering.

The company seeks to leverage the success of its Bajaj Almond Drops Hair Oil brand by launching four products in the personal care segment. Further, the Company also seeks to consolidate its position in the fast moving consumer goods segment by continuously evaluating inorganic acquisition opportunities, the company statement said today.

The issue shall constitute 15.3 % of the post-issue paid up equity capital of the company. At least 60% of the issue shall be allocated on a proportionate basis to qualified institutional buyers, not less than 10% of the issue shall be available to non-institutional bidders and not less than 30% of the issue shall be available to retail individual bidders.

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