homebusiness NewsBajaj Consumer's Jaideep Nandi: HNIs bought lot of Temasek's stake; Promoters may up stake in future
Bajaj Consumer's Jaideep Nandi: HNIs bought lot of Temasek's stake; Promoters may up stake in future
Bajaj Consumer saw a large trade on Friday as over 6 percent equity changed hands with Temasek selling its entire holding via subsidiary Baytree. Jaideep Nandi, Managing Director at Bajaj Consumer shared more details on the deal.
Bajaj Consumer saw a large trade on Friday as over 6 percent equity changed hands with Temasek selling its entire holding via subsidiary Baytree. Jaideep Nandi, Managing Director at Bajaj Consumer shared more details on the deal.
“Baytree Investments, which was Temasek’s holding, sold off 6.6 percent shares on Friday. It has been bought by a lot of high net worth individuals (HNIs). We understand that there was a substantial demand for the stock,” he said.
The company remains focused on hair care. “We still remain very focused on hair care. The skin care we have not yet scaled up. In Q3, the demand was very robust, still rural is fuelling demand, urban is now coming back. As far as channels are concerned, general trade has bounced back,” he said.
“e-Commerce contributes to about 3 percent of our revenue and which is what we expect to push up. Modern trade has been doing better than Q2 and in Q3 we can see recovery,” he said.
In terms of Zero Grey, he said, “That is something we have been focusing on, it is on the digital channel, Q2, Q3 we have seen good growth, now we are getting into some digital marketing for the brand, let us see how the digital campaign goes, we are pretty excited about this product.”
The company saw a 20 percent growth in volumes. “It typically came from two aspects, one is because we have been pushing our Amla sales as well. As well as the consumers are now looking for value packs. So larger packs have been doing well,” he added.
On promoter debt, he said, “The promoter stake has remained stable at 38 percent. There is no plan of selling stake at all, maybe in future it may go up, it is very unlikely to go down.”
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(Edited by : Ajay Vaishnav)
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