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Business News/ Markets / Ipo/  Mamaearth IPO: Honasa Consumer sets price band at 308-324 a share

Mamaearth IPO: Honasa Consumer sets price band at ₹308-324 a share

Mamaearth IPO: Honasa Consumer sets price band at ₹308-324 a share

Honasa co-founder and Chief Executive Officer Varun Alagh said their flagship brand Mamaearth is a leader in the D2C personal care segmentPremium
Honasa co-founder and Chief Executive Officer Varun Alagh said their flagship brand Mamaearth is a leader in the D2C personal care segment

Mamaearth IPO: Mamaearth parent Honasa Consumer has set the price band for its issue at 308-324 a share of face value of 10 each. Honasa Consumer will launch its three-day initial public offering (IPO) on October 31.

Mamaearth is looking to raise 365 crore in primary capital, and offer 41,248,162 equity shares for sale, it said.

Existing investors Fireside Ventures, Stellaris Venture Partners, Sofina Ventures, as well as high net-worth individuals Kunal Bahl, Rishab Mariwala, Rohit Bansal, and Shilpa Shetty will be selling some of their shares through the IPO.

Mamaearth IPO opens for subscription on Tuesday, October 31, and closes on Thursday, November 2. The allocation to anchor investors for Honasa Consumer IPO is scheduled to take place on Monday, October 30.

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Mamaearth IPO floor price is 30.80 times the face value of the equity shares and the cap price is 32.40 times the face value of the equity shares. Mamaearth IPO lot size is 46 equity shares and in multiples of 46 equity shares thereafter.

Mamaearth IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors. A discount of 30 per equity share is being offered to eligible employees bidding in the employee reserve portion.

Mamaearth IPO details

Mamaearth IPO consists of an offer for sale (OFS) of around 4.12 crore shares and a new share issuance of up to 365 crore. The IPO will see the sale of 3,186,300 shares by Honasa promoter Varun Alagh and up to 100,000 shares by his wife Ghazal Alagh. A number of other shareholders, including Kunal Bahl, Shilpa Shetty Kundra, Rishabh Harsh Mariwala, Fireside Ventures Fund, Sofina, Stellaris, and Rohit Kumar Bansal, will be selling their stakes in the OFS.

The company intends to use the net proceeds to finance the following goals: advertising costs to raise the company's brands' exposure and awareness; The amount of capital that the company will need to build up new EBOs; Financial support for the establishment of new salons by the company's subsidiary, Bhabani Blunt Hairdressing Private Limited (BBlunt); general corporate objectives; and an unidentified inorganic acquisition.

The book running lead managers of the Honasa Consumer IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited, and J.P. Morgan India Private Limited. The registrar of the offering is Kfin Technologies Limited.

On Tuesday, November 7, the allocation for the Honasa Consumer IPO is anticipated to be completed. Honasa Consumer IPO is scheduled to list on the BSE and NSE, with a tentative listing date of Friday, November 10.

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Published: 26 Oct 2023, 08:28 AM IST
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