Mamaearth IPO to hit the Street October 31, sets IPO price at Rs 308-324

26 Oct 2023 , 09:33 AM

The Honasa Consumer Ltd (Mamaearth) initial public offering (IPO) has the following key details:

Price Band: The price band for the IPO is set at Rs 308-324 per share. This means that investors can bid for Mamaearth shares at a price within this range.

IPO Schedule:

• IPO Opening Date: October 31, 2023
• Anchor Issue Opening Date: October 30, 2023
• IPO Closing Date: November 2, 2023
• Basis of Allotment: November 7, 2023
• Initiation of Refunds: November 8, 2023
• Credit of Shares to Demat: November 9, 2023
• Listing Date: November 10, 2023

IPO Details:

• The IPO consists of a fresh issue of Rs 365 crore and an offer for sale of up to 41.25 million shares.
• At the upper price band of Rs 324 per share, the company will raise around Rs 1,701.44 crore.
• The firm’s valuation stands at Rs 10,424.53 crore.

Selling Shareholders:

• The offer for sale includes shares from selling shareholders, including Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansal, and Shilpa Shetty Kundra.

Investor Categories and Allotment:

• QIB Shares Offered: Not less than 75% of the Net Issue
• Retail Shares Offered: Not more than 10% of the Net Issue
• NII (HNI) Shares Offered: Not more than 15% of the Net Issue

Minimum Bid Quantity: Investors can bid for a minimum of 46 shares and in multiples thereof.

Use of Proceeds: The net proceeds from the IPO will be used for various purposes, including 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.

Lead Managers:

• Kotak Mahindra Capital Company Limited
• Citigroup Global Markets India Private Limited
• JM Financial Limited
• J.P. Morgan India Private Limited

IPO Registrar: Kfin Technologies Limited

Mamaearth, owned by Honasa Consumer Ltd, is known for its range of personal care and beauty products. The IPO provides an opportunity for investors to participate in the company’s growth and expansion plans.