India’s Fastest-Growing Beauty Startup to Go Public on October 31st

Gurugram-based Honasa Consumer, the parent company of Mamaearth, is set to launch its initial public offering (IPO) on October 31, 2023. The IPO aims to raise Rs 1,700 crore at a valuation of Rs 10,500 crore. Learn more about Mamaearth's journey to the IPO, investor interest, and the company's growth plans.

Gurugram-based Honasa Consumer, the parent company of Mamaearth, is set to launch its initial public offering (IPO) on October 31, 2023. The company aims to raise Rs 1,700 crore at a valuation of Rs 10,500 crore, according to a report by Moneycontrol.

The IPO will take place from October 31 to November 2, with the anchor portion opening on October 30. However, there are no plans for a pre-IPO round at this time.

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In March of this year, Mamaearth had initially planned to raise $200-300 million through an IPO. However, due to weak market conditions, the plans were put on hold, as reported by Reuters.

Since then, Mamaearth has made significant progress. In August 2023, the direct-to-consumer (D2C) personal care brand was reported to have raised about $120-150 million in a new funding round ahead of its planned IPO. The company has had preliminary discussions with investors such as SoftBank, sovereign wealth funds like Singapore’s GIC and Qatar Investment Authority (QIA), and pre-IPO investors including Fidelity Investments, as per a report by Moneycontrol.

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About Honasa Consumer and Mamaearth

Honasa Consumer, founded in 2016 by Varun Alagh and Ghazal Alagh, is the parent company of Mamaearth. It also operates other brands like The Derma Co., Aqualogica, and Ayuga, and has acquired stakes in BBlunt and Dr Sheths.

The Road to IPO

Mamaearth’s journey to the IPO has been eventful. The company’s commitment to providing safe and natural personal care products for babies and adults alike has resonated with consumers, leading to rapid growth and recognition as India’s fastest-growing beauty startup.

The decision to go public comes after careful consideration and strategic planning. Mamaearth’s IPO aims to raise funds that will support its expansion plans, both domestically and internationally. The funds will be utilized to strengthen the brand’s presence, invest in research and development, and explore new markets.

Investor Interest and Valuation

Mamaearth has attracted significant interest from investors, including reputed names such as SoftBank, GIC, and QIA. The company’s strong growth trajectory and focus on sustainability have made it an attractive investment opportunity.

The IPO is expected to value Mamaearth at Rs 10,500 crore ($1.5 billion), primarily through a secondary share sale. This valuation reflects the company’s potential and market position as a leader in the beauty and personal care industry.


Mamaearth‘s decision to go public on October 31, 2023, marks a significant milestone for the company and the Indian beauty startup ecosystem. With its commitment to safe and natural products, Mamaearth has captured the trust and loyalty of consumers.

The IPO will provide Mamaearth with the necessary capital to fuel its growth and expansion plans. As the company continues to innovate and disrupt the beauty industry, investors and consumers alike will be eagerly watching its journey.

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