Mamaearth sets price band of Rs 308-324 a share for October 31 IPO

The basis of allotment will be on November 7 and initiation of refunds will be on November 8. The firm will list on exchanges on November 10.

by Akash Jha updated October 27, 2023, 12:21 AM 13 Views

Mamaearth IPO: The Mamaearth parent company, Honasa Consumer, has priced its IPO between Rs-308 and Rs-324. Each share is worth 10. On October 31st, Honasa Consumer will begin a three-day initial public offering (IPO).

According to the announcement, Mamaearth plans to sell 41,248,162 shares of stock in order to raise 365 crore in primary capital.Fireside Ventures, Stellaris Venture Partners, Sofina Ventures, and the wealthy individuals Kunal Bahl, Rishab Mariwala, Rohit Bansal, and Shilpa Shetty are all selling a portion of their stake in the company in the IPO.

On Tuesday, October 31, subscribers can begin purchasing shares in Mamaearth, and they will have until Thursday, November 2, to do so. Honasa Consumer’s IPO allocation to anchor investors is set for Monday, October 30.Mamaearth has set its initial public offering (IPO) pricing range between $30.80 and $32.40-per-share, with a floor price of $30.80 and a ceiling price of $32.40-per-share. Each IPO lot of Mamaearth equity is comprised of 46 shares, with further lots available in 46-share increments.

Qualified Institutional Buyers (QIBs) will get not less than 75% of the shares in the public issue from the Mamaearth IPO, Non Institutional Investors (NIIs) would receive not more than 15%, and Retail Investors will receive no more than 10%. When employees participate in the employee reserve section of the auction, they can receive a discount of 30 per equity share.

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Mamaearth IPO details

Mamaearth is raising up to 365 crore through an initial public offering (IPO), with the OFS consisting of around 4.12 crore shares. Honasa promoter Varun Alagh plans to sell 3,186,300 shares in the IPO, while his wife Ghazal Alagh may sell up to 100,000 shares. Other investors selling their shares in the OFS include Kunal Bahl, Shilpa Shetty Kundra, Rishabh Harsh Mariwala, Fireside Ventures Fund, Sofina, Stellaris, and Rohit Kumar Bansal.

Advertising expenses to increase brand visibility and recognition; New EBO development funding; General corporate purposes The business plans to use the net proceeds to finance these general corporate purposes. The investment funds will be used for Bhabani Blunt Hairdressing Private Limited’s (BBlunt) expansion into new salon locations, as well as for other business purposes and an undisclosed inorganic purchase.

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Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited, and J.P. Morgan India Private Limited are the book running lead managers for the Honasa Consumer initial public offering. Kfin Technologies Limited is the offering’s registrar.

Allocation for the Honasa Consumer IPO is expected to close on November 7. The BSE and NSE are expected to host the initial public offering (IPO) for Honasa Consumer on November 10.