Shahnaz Husain plans IPO for herbal firm

India's beauty ambassador Shahnaz Husain is planning to take a bow in the infotech arena, besides floating an initial public offering for her firm -- Shahnaz Herbals.

In addition, Shahnaz is planning to set up anti-stress resorts across the country in a tie-up with a US-based company, Shahnaz Husain said on Friday.

The company is currently in the process of finalising the modalities of the IPO, which is likely to be launched by the end of this year.

''We are finalising the amount of equity that has to be divested and the other finer details of the issue. I would not be able to divulge much at present, but we will surely go public by the end of this year,'' she added.

As part of the infotech foray, the company is planning to undertake e-commerce activities and selling her prescriptions and herbal products on the Net. In addition, she is floating a new consumer-friendly Web site -- askshahnaz.com. ''We are now in the process of building the Web site,'' Nelofar Currimbhoy, Shahnaz's daughter and president of the Shahnaz Husain Group of Companies said.

The IT initiatives would initially be carried out through a separate division under Shahnaz Herbals.

Regarding the anti-stress resorts, Shahnaz said, the first resort has already been set up in Haryana. ''We have now tied up with a US-based firm for setting up similar ayurvedic resorts across the country. The company would be managing and maintaining the resorts, including the herbal clinics,'' she said but refused to divulge the partner's name.

The agreement to this effect is likely to be finalised by the end of next month. Shahnaz Herbals would have a revenue sharing arrangement with the US firm.

In addition, the company is planning to put an increased thrust on business in the overseas markets. ''Currently, around 40 per cent of our overseas business alone comes from Japan. We are trying to grow this.''

The company also announced the launch of 'Precious pearl natural whitening rehydrant moisturizer'.

Shahnaz is the latest celebrity to join the IT and IPO bandwagon after filmmakers Subhash Ghai and Dheeraj Kumar. Bollywood action man Sunil Shetty is planning to kick his way into the infotech world by floating an entertainment and media dot-com venture, besides an IPO for his chain of departmental stores -- Mischief.

Recently, Ajay Devgan and Kajol had also announced a Rs 25-million float for Devgan Entertainment and Software Limited at Rs 10 each. The post issue capital will be Rs 100 million with the promoters holding a 75 per cent stake. The proceeds of the issue would be used to fund the company's internet and portal ventures.

DESL plans to launch an exclusive portal on Indian entertainment which will give exhaustive information about the country's entertainment industry. It will educate surfers on the history, terminology, films, artistes, producers, directors, technicians and places of entertainment. The portal will also enable B2B transactions for people interested in the movie industry.

The book-built portion of Mukta Arts' IPO, which consisted of an institutional portion of Rs 375 million and non-institutional portion of Rs 375 million, received an overwhelming response. The price for the IPO has been fixed at Rs 165. The fixed price portion for the Mukta Arts IPO opens on Saturday and will close for subscription on August 1, 2000.

Meanwhile, Subhash Ghai-promoted Mukta Arts Limited has inked a $3.13-million deal with the Mauritius-based Windmill Holdings Limited for limited satellite telecast of eight films on B4U channel. The films include Karz, Hero, Karma, Saudagar, Khalnayak, Trimurti, Pardes and Taal.

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