Mamaearth owner Honasa Consumer hopes to raise Rs 1,701.44 crore in upcoming IPO

Honasa Consumer Limited, owner of personal care brands including Mamaearth and The Derma Co, hopes to raise Rs 1,701.44 crore in its upcoming initial public offering, which opens for public subscription on October 31.

The business fixed a price band for the IPO of Rs 308 to Rs 324 per share on October 26, India Retailing reported. After launching for public subscription on October 31, the IPO will end on November 2. On October 30, the anchor book of the offer will be opened. 
 
The IPO includes a fresh issue of equity shares valued at Rs 365 crore as well as an offer-for-sale of 4.12 crore equity shares. Entities offering shared in the offer-for-sale include Fireside Ventures Fund, Sofina, and Stellaris among others.

The book running lead managers for the issue have been named as Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India Private Limited. Following the IPO, the equity shares of the company will be listed on the Bombay Stock Exchange and National Stock Exchange.
 
Husband and wife entrepreneurs Varun and Ghazal Alagh launched Honasa Consumer Limited in Gurugram in 2016, according to the business’ website. The business entered the unicorn club in January 2022 and its ‘House of Brands’ also includes Aqualogica, Ayuga, BBlunt, and Dr Sheth’s.