• By Vaamanaa Sethi
  • Thu, 26 Oct 2023 10:52 AM (IST)
  • Source:JND
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Mamaearth parent Honasa Consumer Ltd, on Thursday, announced the price band of its upcoming initial public offering (IPO). The share price of Honasa Consumer IPO is fixed at Rs 308 - Rs 324 per piece with a share of face value of Rs 10 each. 

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The IPO  will open for subscription on October 31 and will close for bidding on November 2. The anchor issue is scheduled to commence on October 30. 

The IPO comprises a fresh issue of Rs 365 crore and an offer for sale of up to 41.25 million shares. At the upper price band, the company is poised to raise approximately Rs 1701.44 crore. Consequently, the firm's valuation will be positioned at Rs 10,424.53 crore.

Existing investors Fireside Ventures, Stellaris Venture Partners, Sofina Ventures, as well as high net-worth individuals Kunal Bahl, Rishab Mariwala, Rohit Bansal, and Shilpa Shetty will be selling some of their shares through the IPO.

The IPO will see the sale of 3,186,300 shares by Honasa promoter Varun Alagh and up to 100,000 shares by his wife Ghazal Alagh.

The net proceeds of the IPO will be used for 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.

Honasa Consumer IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors. A discount of Rs 30 per equity share is being offered to eligible employees bidding in the employee reserve portion.

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The book running lead managers of the Honasa Consumer IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited, and J.P. Morgan India Private Limited. The registrar of the offering is Kfin Technologies Limited.

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