Bajaj Corp fixes IPO price at Rs 630-660/share

Hair oil maker Bajaj Corp, part of Shishir Bajaj group, today fixed a price band of Rs 630-660 a share for its initial public offer (IPO). At the upper price band of Rs 660 a share, the company aims to raise to Rs 297 crore by selling 4.5 million shares in the IPO.

The issue will open for subscription on August 2 and close on August 5 for retail and non-institutional investors. For qualified institutional buyers (QIBs), the issue will close on August 4.

Bajaj Corp intends to use Rs 220 crore for promotion of future products in the personal care segment and Rs 50 crore for acquisitions and other strategic initiatives from the net proceeds of the IPO.