The public issue of WomanCart received a decent response from investors as the issue was fully subscribed on the first day of bidding. The IPO, which opened for subscription on October 16, was subscribed over 5 times, with bids coming in for 53.08 lakh equity shares against an offer size of 11.12 lakh equity shares.
Retail investors and high net-worth individuals (HNIs) bid 8.39 times and 1.67times of the allotted quota.
The public issue in the small and medium enterprise (SME) segment will close on October 18. The Rs 9.56-crore public offer is entirely a fresh issue of 11,12,000 shares and there is no offer-for-sale component.
The price for the public offer has been fixed at Rs 86. Narnolia Financial Services is the book-running lead manager, Maashitla Securities is the registrar and Nikunj Stock Broker is the market maker for the issue.
Follow our market blog for all the live action
WomanCart will use the net proceeds from the IPO for branding and marketing, app development, and funding working capital requirements. The remaining amount will be used for general corporate purposes.
Veena Pahwa is the promoter of the company. Pre-issue, promoter and promoter group held 78.01 percent stake and post-issue their stake will come down to 57.4percent.
WomanCart is an online platform which offers a broad range of beauty brands and wellness products for skin care, hair care, and body care. The company offers more than 100 skincare brands to its consumers and has an offline store in Shalimar Bagh, Delhi opened in April 2022.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
