The owner of the country’s well known personal care brands including The Derma Co, Aqualogica and Mamaearth, Honasa Consumer Ltd has declared that it has filed for the Initial Public Offering (IPO) in association with Securities and Exchange Board of India (SEBI) on Thursday, 29th December 2022.
According to the Draft Red Herring Prospectus (DRHP) filed by Honasa Consumer with SEBI consists that the company wishes to secure funds via fresh issuance of the stakes and each stake or share values of about Rs.10. The fresh issuance of equity shares values for an amount of 400 Cr INR. The size of the offer-for-sales (OFS) is equals to 46,819,635 equity shares consisting the investors, shareholders and other promoter.
The Offer-for-sales stakeholders comprise of the company’s founders Varun Alagh and Ghazal Alagh, investors including the Elolvence India, Sofina Ventures, Fireside Ventures and Stellaris. The other Stakeholders of the offer-for-sale include the angel investors like the founder of Marico Rishab Mariwala, actress Shilpa Shetty Kundra and Co-founders of the Snapdeal Kunal bahl and Rohit Bansal.
About the IPO Paper Filing
It the filing goes successful then the parent company of Mamaearth the Honasa Consumer Ltd. will be the first ultramodern company to have an Initial public offering (IPO) in the country after the audiotech company BoAt withdrew its IPO during the beginning of the year 2022.
The company has also mentioned that the fund secured from the Initial Public Offering will be used for advertising the brands it owns to create awareness and visibility and to set up more outlets for its brands also, the company wishes to invest in its subsidiaries using the fund raised through the IPO.
About the Company Honasa Consumers Ltd.
The owner of multiple personal care brands Honasa Consumer Ltd was established by the couple Varun Alagh and Ghazal Alagh 16th September 2016. The headquarter of the company is based in Gurugram, Haryana.
The company’s valuation was estimated to 52 million US dollars in the month of January of the year 2022. The company generates revenue from its functioning and the company reported this year’s revenue estimate equal to 722.73 Cr INR for a period from April to September of the year 2022.
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