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Hair stylist Jawed Habib’s venture to raise Rs 60 crore

New Delhi: Jawed Habib Hair & Beauty Ltd (JHHBL) has approached Securities & Exchange Board of India (SEBI) to raise Rs 60 crore through a public issue to expand his business in India and abroad. Promoted by Jawed Habib Akhtar, the famous hair stylist, JHHBL is probably the first such firm to raise money by issuing equity to general public. Jawed Habib comes from a dynasty of hair experts whose ancestors were in this business long ago. His grandfather was a barber to the last British Viceroy Lord Mountbatten and also to Jawaharlal Nehru. Habib’s growth in this field has been phenomenal, seeing that in 2006 he had 37 outlets and at present he has eight outlets of his own and 176 franchised ones in 62 cities of India. He also runs six academic institutions and 35 franchised institutions in 35 different cities. He also has set a world record of performing 410 non-stop haircuts in less than 26 hours. The range of services rendered by his firm include haircut, hairstyling, dyeing, straightening, chemical treatment of hair, SPA and facial treatments and so on. The hair and beauty saloon industry in India at present is estimated to be worth Rs 6,900 crore. It is expected to go up to more than Rs 30,000 crore within five years hence.
 

This article appeared in The Milli Gazette print issue of 16-28 February 2011 on page no. 19

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