JHS Svendgaard to raise Rs 39 crore through IPO

Mumbai, Sep 18 (UNI) JHS Svendgaard Laboratories, a dental and oral healthcare products manufacturing company, has proposed to enter the capital market with an initial public offering (IPO) on September 26, 2006, to part finance the new and expansion projects estimated to cost Rs 51.77 crore.

Briefing newspersons here today, the company's Managing Director Nikhil Nanda said, ''The IPO being made through Book Building Process for 67 lakh equity shares of Rs 10 each at a price band of Rs 49 to Rs 58 per equity share. The IPO is expected to fetch Rs 32.83 crore at the lower end of the price band and Rs 38.86 crore at the upper end.'' It has three production facilities of which two are located in New Delhi and a 100 per cent Export Oriented Unit (EOU) is located at Noida SEZ in Uttar Pradesh.

Replying to a question, Mr Nanda said post expansion the annual installed capacities of all products will increase substantially - toothbrushes from 40 million units to 116 million units, toothpaste from 450 tonnes to 2,700 tonnes, denture cleaning tablets from five million units to 180 million units and other oral care products from 60,000 litres to five lakh litres.

UTI Bank, Centrum Capital and Bajaj Capital are the Book Running Lead Managers to the issue. The shares are to be listed on both the National Stock Exchange and the Bombay Stock Exchange Ltd.

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