Honasa Consumer, Mamaearth's parent company, may apply for an initial public offering (IPO) by the end of this month. According to Moneycontrol, the much awaited edition will be released on Dalal Street on October 31. The corporation, on the other hand, did not confirm or refute the report.
Honasa Consumers submitted a draft red herring prospectus with Sebi in December 2022, and got regulatory approvals in August of this year. The D2C unicorn is a beauty, babycare, and skincare expert.
According to sources, there is a lot of interest in Mamaearth's initial public offering (IPO), which will start on Tuesday, October 31. According to the issue's anchor book, which will open on Monday, October 30, the firm will not raise capital through pre-IPO placement.
The corporation had not claimed any premium in the grey market as of Monday, October 23. Some queries were made, however, with the dealers, who requested anonymity. However, the action may pick more steam in the coming days as more facts and circumstances of the case become public.
However, the study provides some information on the values and issue magnitude by referring sources. It added that the company plans to raise roughly Rs 1,700 crore via the IPO route, including both new issue and offer-for-sale, at an estimated valuation of Rs 10,500 crore.
Honasa Consumer, founded by Varun and Ghazal Alagh in 2016, became a unicorn in January 2022. A worldwide venture capital firm, Sequoia Capital, has invested $52 million in the company, valuing it at $1.2 billion. However, there was substantial discussion on social media regarding values after Reuters reported that the company was seeking for a $3 billion (Rs 22,000 crore) valuation.
Kotak Mahindra Capital, JM Financial, Citi, and JP Morgan are among the investment banks working on the IPO, while Cyril Amarchand Mangaldas, IndusLaw, and Khaitan & Company are the legal consultants. KFin Technologies is the mega issue's registrar.
