Mamaearth’s parent files IPO papers, to raise Rs 400 crore via sale of new shares

By Daisy On Dec 29, 2022

Honasa Consumer Ltd, the parent company of personal care brand Mamaearth, has filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). Through the offer, there will be a fresh issuance of shares worth Rs 400 crore, in addition to an offer-for-sale (OFS) component for 46.82 million shares.

The OFS will see founders Varun Alagh and Ghazal Alagh and investors such as Sofina, Fireside Ventures, Evolvence India, Stellaris, and angel investors Kunal Bahl, Rishabh Mariwala, Rohit Bansal, and Shilpa Shetty Kundra, dilute their stakes.

The company, which runs brands such as The Derma Co and BBlunt in addition to Mamaearth, is valued at $1.2 billion when it last raised capital earlier this year.

As per the offer document, Honasa Consumer reported revenue from operations of Rs 722.73 crore during April-September 2022 with a profit of Rs 3.67 crore. This compares to Rs 943.46 crore in operational revenue for the year ended March 31, 2022 on a positive bottomline of Rs 14.43 crore.

(This is a developing story. Please stay tuned for more)

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