Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Companies / Tano Mauritius India buys 14.66% stake in JHS Svendgaard
BackBack

Tano Mauritius India buys 14.66% stake in JHS Svendgaard

Tano Mauritius India buys 14.66% stake in JHS Svendgaard

Premium

Mumbai: Tano Capital LLC’s Mauritius fund, Tano Mauritius India FVCI, has picked up 14.66% stake in BSE listed JHS Svendgaard Laboratories Ltd through preferential allotment, the company informed the stock exchanges.

With the stake, that is tad below 15% that triggers open offer by the acquirer, the California based private equity firm will get a board seat. “Board of Directors of the Company have decided to do a preferential allotment of 25,00,000 equity shares to Tano Mauritius India FVCI at a price of Rs97.75," the company said.

Being an oral care products manufacturing, the company also manufactures a wide variety of dental and oral products as contract manufacturer for many of the national and international brands.

The main portfolio of the company was to carry out exporting, importing, trading, buying and selling of oral care/hygiene products. It has ventured into manufacturing of other dental care products like toothpastes, mouthwash, denture tablets.

With a turnover of Rs3130.13 lakhs for the quarter ended 31 December 2010, the company made a net profit of Rs331.88 lakhs, up by 138% over same period last year.

JHS Svendgaard’s stock rose on the news of preferential allotment by 2.84% to Rs79.80 a share at 10.50 hours on the Bombay Stock Exchange.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Sneha Shah
Sneha writes on new economy businesses, private and public marker funding and deals. She writes about startups and the new economy, specifically PE/VC and investment banking.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 14 Mar 2011, 11:57 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App