Mamaearth, Indegene, and Vishnu Prakash R Punglia Receive SEBI Nod for IPO Launch

3 Aug 2023 , 09:37 PM

Personal care company- Honasa Consumer, life sciences commercialization company- Indegene and EPC company Vishnu Prakash R Punglia has received observation letter for the markets regulator SEBI to raise funds from primary market. 

In December 2022, Honasa Consumer and Indegene submitted their initial IPO documents to Sebi, while the filing for Vishnu Prakash R Punglia took place in April 2023.

Mamaearth parent Honasa Consumer’s initial public offer (IPO) comprises fresh issue of equity shares worth Rs 400 crore and an offer for sale of 4.68 crore shares by promoters and shareholders.

Those selling shareholders in the OFS would include promoters and co-founders — Varun Alagh and Ghazal Alagh — Bollywood actor Shilpa Shetty Kundra, Rohit Kumar Bansal, Sofina Ventures and Kunal Bahl.

The company asserts its position as the leading digital-first beauty and personal care company in India, based on its revenue from operations for FY22. Since the introduction of Mamaearth in 2016, the company has successfully integrated five additional brands into its portfolio: The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr. Sheth’s.

Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India are the appointed bankers for the issue.

Indegene IPO:

The health tech firm IPO consist a fresh issue of Rs 950 crore and an offer for sale of up to 3.63 crore equity shares shareholders, including investors Vida Trustee, BPC Genesis Fund, and CA Dawn Investments.

The company intends to utilize the proceeds generated from the fresh issue to address various objectives, including debt repayment, meeting capital expenditure needs, fulfilling deferred consideration related to a previous acquisition, facilitating inorganic growth initiatives, and supporting general corporate purposes.

Kotak Mahindra Capital Company, Citigroup Global Markets India, JP Morgan, and Nomura Financial Advisory and Securities (India) are the appointed bankers for the issue.

Vishnu Prakash R Punglia IPO:

Jodhpur-based construction firm’s IPO consists fresh issue of upto 31.20 million shares. The company will use proceeds from the fresh issue towards funding capital expenditure and working capital requirement. 

The company’s core business operations are segmented into four primary categories: Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.

Choice Capital Advisors and Pantomath Capital Advisors are the lead managers to the issue.