Tano Capital LLC's Mauritius Fund, Tano Mauritius India FVCI, has picked up 14.66% stake in JHS Svendgaard Laboratories Ltd through a preferential allotment, the company informed the Bombay Stock Exchange on Monday .
With this, the California-based private-equity firm's stake in JHS rose to nearly 15%, which can trigger an open offer bid and right to sit on the company's board.
JHS's board decided to give Tano the preferential shares at a price of 97.75 rupees, the company said..
JHS Svendgaard's stock rose on the news of preferential allotment by 2.84% to 79.80 rupees a share at 730GMT on the Bombay Stock Exchange.
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.