Honasa Consumer Limited’s IPO will open on Tuesday, October 31, 2023, of face value of ₹10 each. The total offer size comprises of fresh issue aggregating up to ₹ 365 crore Equity Shares and Offer for Sale (OFS) of up to 41,248,162 Equity Shares by Selling Shareholders. Those offering shares in the OFS include promoters and founders — Varun Alagh and Ghazal Alagh — and investors like Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra.
The Offer will close on Thursday, November 2, 2023.
The Price Band of the Offer has been fixed at ₹ 308 to ₹ 324 per Equity Share. Bids can be made for a minimum of 46 Equity Shares and in multiples of 46 Equity Shares thereafter. Discount of ₹ 30 per equity share is being offered to eligible employees bidding in the employee reservation portion
The Company, as part of the Objects of the Offer, proposes to utilize the Net Proceeds raised through the Fresh Issue towards Advertisement expenses, Capital expenditure to be incurred by Company for setting up new EBOs, and investment in its Subsidiary, Bhabani Blunt Hairdressing Private Limited for setting up new salons.
Honasa Consumer Limited is the largest digital-first beauty and personal care company in India in terms of revenue from operations for the Financial Year 2023. Company’s flagship brand, Mamaearth, is built to service a core customer need for safe-to-use, natural products, and focuses on developing toxin-free beauty products made with natural ingredients. Since launching Mamaearth in 2016, Honasa has added five new brands to its portfolio.
The Company makes products available to customers through Omni-channel distribution networks across both online and offline touchpoints.
