Mamaearth’s parent company Honasa Consumer Ltd will open its initial public offering (IPO) for subscription on October 31.
All the things to know before subscribing to the offer
The maiden public issue will open for public subscription on October 31 and close on November 2. The anchor book of the offer will be opened for a day on October 30.
The price band for the issue has been fixed at Rs 308 to Rs 324 per share.
The IPO consists of a fresh issue of equity shares worth Rs 365 crore and an offer-for-sale (OFS) component of Rs 4.12 crore equity shares by promoters, investors, and other selling shareholders. At the upper end of the price band, the IPO is expected to garner Rs 1,701.44 crore.
At this price, the market cap of the company is Rs 10,424 crore.
Co-founders and promoters — Varun Alagh and Ghazal Alagh — and investors such as Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala, the son of Harsh Mariwala (Founder and Chairman of Marico), and Bollywood actor Shilpa Shetty Kundra are selling shares in the OFS.
Proceeds from the fresh issue will be used for advertising expenses to step up awareness and brand visibility, establishing new exclusive brand outlets, investment in its subsidiary BBlunt for setting up new salons, general corporate purposes, and inorganic acquisition.
Mamaearth was founded by husband-wife duo Varun Alagh and Ghazal Alagh in 2016.
The Gurugram-based beauty and personal care company started with the launch of Mamaearth and over the years added several more brands to its bouquet such as The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth’s.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India are advising the company on the IPO. The equity shares of the company are proposed to be listed on the BSE and NSE.