Bajaj Consumer Care promoter sell 7 percent stake for Rs 320 crore

By

Maverick Martins

Published
Mar 14, 2019

The promoters of Bajaj Consumer Care have raised Rs 320 crore ($46 million) by selling 6.85 percent of their stake in the company.
 

The stake sale was done through an open market transaction. The promoters of Bajaj Consumer Care which was formerly known as Bajaj Corp Ltd still hold 59.91 percent despite the stake sale.
 
“Bajaj Resources, KNB Enterprises and SKB Roop Commercial sold 1.01 crore shares, or 6.85 percent stake, in Bajaj Consumer Care on Tuesday, the company said in a Bombay Stock Exchange (BSE) filing.

Bajaj Corp has posted strong sales of Rs 237 crore during the third quarter and expects sales to rise during the fourth quarter.
 
Bajaj Corp Ltd is part of the Bajaj Group and is one of the leading players in the hair oil and skin care categories in India.