Promoters hike stake in fragrance & flavour firm S H Kelkar

The promoters of S H Kelkar and Company Ltd, one of the leading players in the Indian fragrance and flavours industry, have increased their stake in the company by 0.93 percent to 57.6 percent. They have purchased 1,348,757 shares at Rs 300 per share translating into a consideration of Rs 40.46 crore.

The purchase was part of private equity Blackstone Group’s 4 percent divestment in the company. Post-divestment, Blackstone Group currently holds 17.6 percent in S H Kelkar and Company. 

S H Kelkar and Company, promoted by the Vaze family with Ramesh Vaze as chairman, is one of the top five players in the Indian fragrance and flavour market. Its specialty fragrance and flavour ingredients are used by leading consumer goods companies such as ITC, Emami, Britannia, Vadilal Industries, Marico, etc.