Thakral Corporation’s stake in The Beauty Tech Group valued at GBP18.8 million ($32.6 million) following the company’s first day closing price of GBP2.81 which increased 4% from its IPO price.
The Beauty Tech Group’s market capitalisation now stands at GBP311 million.
The Beauty Tech Group debuted on the London Stock Exchange (LSE) on Oct 8, raising GBP29 million from the 10.7 million placement shares at GBP2.71 per share.
Thakral had an effective pre-IPO interest of 9.55% in The Beauty Tech Group, but divested 2.86% of its holdings as part of the IPO. It continues to hold about 6.04% of shares in the company.
“The Beauty Tech Group builds on Thakral’s track record of identifying and nurturing high growth businesses where our strategic capital and operational expertise can accelerate scale and enhance long-term shareholder value. Our approach consistently combines patient capital with strategic guidance, market access, and governance oversight to deliver superior returns,” says Inderbethal Singh Thakral, CEO and executive director of Thakral.
Shares in Thakral closed 1 cent lower or 0.613% down at $1.62 on Oct 9.
