Mamaearth Announces IPO Price Band of Rs 308-324 per Share for October 31 Debut

Mamaearth’s parent company, Honasa Consumer Ltd, has officially revealed the price band for its highly anticipated initial public offering (IPO), set to open on October 31. The anchor issue is scheduled to kick off on October 30, with the IPO closing on November 2. The offering comprises a fresh issue of Rs 365 crore and an offer for sale of up to 41.25 million shares. At the upper end of the price band, the firm is poised to raise approximately Rs 1,701.44 crore, resulting in a total valuation of Rs 10,424.53 crore.

Previously, there were speculations regarding the price band, with reports suggesting it could range from Rs 320 to Rs 350. However, it has been confirmed that the upper end of the price band is unlikely to exceed Rs 350.

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See Also: Honasa Consumer IPO GMP

Notable selling shareholders in the offer for sale include Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansal, and Shilpa Shetty Kundra.

The basis of allotment for the IPO is set for November 7, and the initiation of refunds is scheduled for November 8. Mamaearth is expected to make its debut on stock exchanges on November 10.

See Also: Upcoming IPOs

The net proceeds from the IPO will be allocated for various purposes, including advertising expenses to enhance brand visibility and awareness, establishing new exclusive brand outlets, investments in BBlunt for setting up new salons, general corporate requirements, and facilitating inorganic growth.

Honasa Consumer, the owner of popular brands such as Mamaearth and The Derma Co, is recognized as India’s leading digital-first beauty and personal care (BPC) company by FY23 revenue. The company held a 28.9% direct-to-consumer (DTC) BPC market share in 2022 and a 1.5% share in the overall BPC market. Despite its substantial FY23 revenue of Rs 1,492.75 crore, the company reported a net loss of Rs 142.8 crore.

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