Mamaearth IPO Close with 7.61x subscription; check allotment details here

3 Nov 2023 , 12:18 PM

On the final day of bidding, Honasa Consumer, the parent company of Mamaearth, received an overwhelming response to its initial public offering, with a subscription rate of 7.61 times. The bids totaled 22 crore shares against the issue size of 2.89 crore shares. Notably, retail investors bought 1.35 times, high net worth individuals (HNI) bought 4.02 times, and qualified institutional buyers (QIB) subscribed to 11.5 times of the allotted quota.

As per the tentative IPO schedule, the company is set to declare its share allotment on November 7. Applicants can verify their allotment status on the BSE website or the IPO registrar’s website, Kfin Technologies Limited, by providing their application number and PAN details.

The company intended to raise Rs 1,701 crore through its IPO. This comprises a fresh issuance of shares worth Rs 365 crore and an offer-for-sale (OFS) of 4.13 crore equity shares by shareholders such as Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, and Shilpa Shetty Kundra.

Additionally, prior to this, Honasa Consumer secured Rs 765.19 crore from anchor investors, including Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Capital Group, and Norges Bank, on Monday, highlighting substantial interest from prominent investors in the IPO.