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Business News/ Markets / Ipo/  Mamaearth IPO: Seven mutual funds via 19 schemes invest 253 crore in anchor portion
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Mamaearth IPO: Seven mutual funds via 19 schemes invest ₹253 crore in anchor portion

Mamaearth parent Honasa Consumer IPO garnered ₹765.20 crore from anchor investors. Seven mutual funds invested ₹253 crore in Mamaearth IPO, making up 33.1% of anchor allocation. Mamaearth IPO opened for subscription on Oct 31 and will close on November 2.

Seven prominent mutual funds invested ₹253 crore (REUTERS)Premium
Seven prominent mutual funds invested 253 crore (REUTERS)

Mamaearth IPO: Mamaearth parent Honasa Consumer IPO garnered a capital of 765.20 crore from anchor investors on Monday, October 30. Seven prominent mutual funds invested 253 crore in the Mamaearth IPO, receiving 33.1% of the anchor allocation. Of the 23,617,228 equity shares allotted to the anchor investors, 7,827,544 equity shares (or 33.14 percent of the total amount) were allocated to 7 domestic mutual funds via 19 schemes. Mamaearth IPO opens for subscription on today (Tuesday, October 31), and closes on Thursday, November 2.

“Out of the total allocation of 23,617,228 Equity shares to the Anchor Investors, 7,827,544 Equity shares (i.e. 33.14 % of the total allocation to the Anchor Investors) were allocated to 7 domestic mutual funds through a total of 19 schemes," said Honasa Consumer, adding that 6 prominent insurance companies were allocated 11.5% of anchor allocation.

Also Read: Honasa Consumer IPO: Mamaearth’s parent raises 765.20 crore via anchor investors

Axis, Nippon, Axis, Canara Robeco, Invesco, ICICI Prudential, Aditya Birla Sun Life, and White Oak mutual funds are among the well-known companies on the mutual funds list.

Out of the total allocation of 7,827,544 equity shares, ICICI Prudential Bharat Consumption fund was allocated 725,420 equity shares; Aditya Birla Sun Life Trustee Private Ltd A/C Aditya Birla Sun Life Equity Adavantage Fund was allotted 416,668; Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund was allocated 1,280,870 equity shares; Axis Mutual Fund Trustee Ltd A/C Axis Mutual Fund A/C Axis Equity Saver Fund was allocated 123,418; 

Below is the full list.

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Sr. No.Name of Anchor InvestorNo. of equity shares allocated % of Anchor Investor portionBid price (Rs. per equity share)Total amount allocated
1.ICICI Prudential Bharat Consumption Fund725,4203.07%324235,036,080
2. ICICI Prudential FMCG Fund 556,6002.36%324180,338,400
3.Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Equity Advantage Fund416,6681.76%324135,000,432
4. Aditya Birla Sun Life Trustee Pvt A/C Aditya Birla Sun Life India Gennext Fund447,5341.89%324145,001,016
5. Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Small Cap Fund416,6681.76%324135,000,432
6. Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund1,280,8705.42%324415,001,880
7.Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Equity Saver Fund123,4180.52%32439,987,432
8. Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Retirement Saving Fund - Aggressive Plan246,8821.05%32479,989,768
9. Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Small Cap Fund370,5301.57%324120,051,720
10. Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Special Situations Fund246,8821.05%32479,989,768
11. Axis Mutual Fund Trustee Ltd. A/C Axis Mutual Fund A/C Axis Balanced Advantage Fund246,8821.05%32479,989,768
12. Whiteoak Capital Flexi Cap Fund 365,5621.55%324118,442,088
13. Whiteoak Capital Large Cap Fund 26,3120.11%3248,525,088
14. Whiteoak Capital Mid Cap Fund189,7040.80%32461,464,096
15. Whiteoak Capital Multi Cap Fund 96,6920.41%32431,328,208
16. Whiteoak Capital Tax Saver Fund18,4460.08%3245,976,504
17. Invesco India Smallcap Fund 640,4122.71%324207,493,488
18. Invesco India Multicap Fund 640,4582.71%324207,508,392
19. Canara Robeco Mutual Fund A/C Canara Robeco Multi Cap Fund771,6043.27%324249,999,696
 Total7,827,54433.14% 2,536,124,256

Further, nearly 28 marquee investors have received shares via anchor book, Honasa Consumer Ltd said in an exchange filing on Monday. Of these, some of the participating FPIs are Capital Group (through Smallcap World Fund Inc; which was allocated the highest anchor allocation of 8.77%), Fidelity International Ltd, Norges Bank, Abu Dhabi Investment Authority, First Sentier (First State Investments), White Oak, Franklin Templeton, Kotak, DSP, Carmigniac Gestion, Loomis Sayles, Matthews, Pictet and Hornbill, added the company.

Also Read: Mamaearth IPO: Company reveals the reason for reducing issue size

Mamaearth IPO details

Mamaearth IPO has set the price band for its issue at 308-324 per equity share of face value of 10 each. Mamaearth IPO consists of an offer for sale (OFS) of around 4.12 crore shares and a fresh share issuance of up to 365 crore. The company expects to raise about 1701.44 crore on the upper price band. As a result, the company was valued at 10,424.53 crore.

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.

The company saw a turnaround in Q1-FY 2024, earning a net profit of 24.71 crore compared to a net loss of 151 crores in FY 2023 and 11. 52 crores in Q1-FY 2023.

As per red herring prospectus (RHP), the company's comparable listed peer are Hindustan Unilever Ltd (with P/E of 59.16), Colgate Palmolive (India) Ltd (with P/E of 54.25), Procter & Gamble Hygiene and Health Care Ltd (with P/E of 83.12), Dabur India Ltd (with P/E of 54.53), Marico Ltd (with P/E of 54.28), Godrej Consumer Product Ltd (with P/E of 59.09), Emami Ltd (with P/E of 34.82), Bajaj Consumer Care Ltd (with P/E of 25.65), and Gillette India Ltd (with P/E of 57.82).

Also Read: Mamaearth IPO opens today: GMP, price band, review, here are 10 key things to know about the offer

Mamaearth IPO GMP today

Mamaearth IPO GMP today or grey market premium is +7, similar to the previous three sessions. This indicates Mamaearth share price were trading at a premium of 7 in the grey market on Tuesday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Mamaearth share price was indicated at 331 apiece, which is 2.16% higher than the IPO price of 324.

Also Read: Mamaearth IPO: Public issue of Honasa Consumer opens today. GMP, review, apply or not?

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 31 Oct 2023, 10:00 AM IST
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