Mamaearth parent Honasa Consumer Ltd has set a price band of Rs 308-324 a share for its initial public offering which will open on October 31. The anchor issue will open on October 30 and the issue will close on November 2. The IPO consists of a fresh issue of Rs 365 crore and an offer for sale of upto 41.25 million shares. On the upper price band, the firm will raise around Rs 1701.44 crore. With this, the firm's valuation stood at Rs 10424.53 crore.
Earlier, Moneycontrol reported that the price band could be in the range of Rs 320-350. The upper end of the price band is unlikely to go above Rs 350, the report added.
Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansal, and Shilpa Shetty Kundra are the selling shareholders in the OFS.
The basis of allotment will be on November 7 and initiation of refunds will be on November 8. The firm will list on exchanges on November 10.
The net proceeds of the IPO will be used for advertisement expenses to improve brand visibility and awareness, setting up new exclusive brand outlets, investment in BBlunt for setting up new salons, general corporate purposes, and inorganic growth.
Also Read: Mamaearth parent plans Rs 1,700-cr IPO on Oct 31; Honasa aims at Rs 10,500-cr valuation
Honasa Consumer, owner of brands like Mamaearth and The Derma Co, is India's top digital-first beauty and personal care (BPC) company by FY23 revenue. They had a 28.9% DTC BPC market share in 2022 and a 1.5% share in the overall BPC market. Their FY23 revenue reached Rs 1,492.75 crore, but they reported a net loss of Rs 142.8 crore.
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