Honasa Consumer IPO Sees 12% Subscription On Opening Day By Investing.com

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Honasa Consumer IPO Sees 12% Subscription On Opening Day

Published Nov 01, 2023 03:02

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Gurugram-based Honasa Consumer, recognized for its portfolio of brands including Mamaearth, The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth's, launched its initial public offering (IPO) today. The IPO, which saw a 12% subscription rate on the first day, includes a fresh issue of Rs 365 crore ($49 million) and an offer for sale of over 41 million equity shares within a price range of Rs 308-324 ($4.13-$4.36) per share.

Stakeholders offering shares in the IPO comprise company founders Varun and Ghazal Alagh along with investors Fireside Ventures Fund and Sofina. The company aims to generate Rs 1,701.44 crore ($228 million) at the upper price band through this public offering.

Prior to the IPO launch, Honasa Consumer successfully raised Rs 765 crore ($103 million) from anchor investors. The company began its journey in 2016 with the launch of Mamaearth and has since grown into a 'House of Brands'.

The IPO is being managed by leading financial institutions including Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and J P Morgan India.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Honasa Consumer IPO Sees 12% Subscription On Opening Day

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