Mamaearth parent files IPO papers with SEBI

29 Dec 2022 , 10:16 AM

As per the reports of Moneycontrol, Honasa Consumer Private Ltd, the parent company of brands such as Mamaearth, The Derma Co, and BBlunt has filed draft papers with SEBI for listing. The company wants to raise funds via fresh issue of equity shares and an offer for sale by shareholders including Alaghs,  Sofina Ventures SA, Evolvence, Fireside Ventures, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, Bollywood actress Shilpa Shetty Kundra, Rishabh Harsh Mariwala and Rohit Kumar Bansal.

As per DRHP, the fresh issue size is up to Rs 400 crore and the OFS component by a clutch of external investors and individual shareholders is up to 46,819,635 equity shares. 

The net proceeds from the IPO will be utilized for to improve brand visibility and awareness through advertisements, setting up new brand outlets, investment in BBlunt for setting up new salons, general corporate purposes and inorganic growth.

Kotak Mahindra Capital, JM Financial, Citi and JP Morgan are working as book-running lead managers on the IPO.