Honasa Consumer Limited, the parent firm of Mamaearth, will launch its initial public offering (IPO) on October 31 and close it on November 2. Honasa, which is based in Gurugram and was launched in 2016 by husband-wife duo Varun and Ghazal Alagh, aims to raise 365 crore through the IPO, with 4,12,48,162 equity shares to be offered for sale.
The issue has a price band of ₹308-324 per equity share at face value of ₹10 each. The lot size, meanwhile, is 46 equity shares, and, after that, in multiple of 46 equity shares.
For qualified institutional buyers (QIBs) not less than 75% shares have been reserved. Not more than 15% of the offer is reserved for non-institutional investors (NIIs) and not more than 10% for retail investors.
Eligible employees bidding in the employee reserve portion will get a 30% discount per equity share.
Honasa Consumer IPO will open for subscription on October 31, with the issue closure date being November 2. The allocation to anchor investors is scheduled for October 30.
Offer for sale (OFS)
While Honasa promoter Varun Alagh will sell 31,86,000 shares, Ghazal Alagh is offering up to 100,000 shares. Other shareholders, including Kunal Bahl, Shilpa Shetty Kundra, Rishabh Harsh Mariwala, Fireside Ventures Fund, Sofina, Stellaris, and Rohit Kumar Bansal, too will sell their respective stakes in the OFS.
Net proceeds to be used for…
The beauty and personal care firm will use these towards advertising expenses to improve awareness and brand visibility; setting up new exclusive brand outlets, investment in its subsidiary BBlunt for setting up new salons, general corporate purposes, and inorganic acquisition.