With its flagship product Almond Drops, Bajaj Corp is the biggest manufacturer of light hair oils in the nation; a sector in which it has constantly been profiting market share. Other than Almond Drops, the company produces and sells various other hair oil products such as, Bajaj Amla Shikakai, Bajaj Jasmine Hair Oil and Bajaj Brahmi Amla.

Bajaj plans to make of the success of its Almond Drops brand by introducing four products in the personal-care section, which will help further growth and spread out the product range. Additionally, the company also looks to strengthen its stature in the FMCG segment by constantly assessing inorganic acquisition chances.

The company plans to put out around 90 per cent of the IPO profits to fund the commencement of new products (Rs 220 crore), along with strategic initiatives and acquisitions (Rs 50 crore).

The faster progress in the light hair oil sector is pushed by up-trading from heavier hair and coconut oils, higher urbanisation and the swell in disposable incomes in rural markets. Furthermore, the company has been without fail gaining market share.

The segment of Almond Drops, which provided over 90 per cent to Bajaj’s sales and gains, increased from 31.4 per cent in 2005-06 to 50.3 per cent in 2009-10.

Shishir Bajaj group company, Bajaj Corp, one of the India`s leading producers of hair oils has entered capital market today, August 2 with a fresh issue of 4.5 million equity shares of Rs 5 each, in a price band of Rs 630-Rs 660 a share. The company plans to raise Rs 2.84 billion to 2.97 billion, depending on the price discovered via the public issue, which closes on Aug. 4, 2010 for QIB bidders and on Aug. 5, 2010 for retail and HNI category. Through the issue, the company is looking to dilute 15.3% equity.