Honasa Consumer Limited, owners of famous Mamaearth outlets, launched its ₹1,701-crore Initial Public Offering (IPO) on Tuesday with a price band of ₹308-324. The minimum bids can be made for 46 equity shares and in multiples of 46 shares thereafter.
The offering comprises a fresh issue of equity shares amounting to ₹365 crore, alongside an Offer for Sale (OFS) of up to 4.125 crore equity shares by various stakeholders, including promoters, founders, and investors. Co-founders and promoters -- Varun Alagh and Ghazal Alagh -- and investors such as Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala, the son of Harsh Mariwala (Founder and Chairman of Marico), and Bollywood actor Shilpa Shetty Kundra are selling shares in the OFS.
The company on Monday raised ₹765.20 crore by deciding to allot 2.36 crore equity shares to 49 anchor investors. The shares were allotted at ₹324 a share to anchor investors who included some of the prominent FPIs such as Capital Group (through Smallcap World Fund Inc; Fidelity International Ltd, Norges Bank, Abu Dhabi Investment Authority, First Sentier (First State Investments), White Oak, Franklin Templeton, Kotak, DSP, Carmigniac Gestion, Loomis Sayles, Matthews, Pictet and Hornbill; and dmestic investors ICICI Prudential, Aditya Birla Sun Life, Nippon, Axis, Canara Robeco, Invesco and MF of White Oak besides Insurance companies such as SBI Life Insurance, ICICI Life Insurance, Birla Life Insurance, Max Life Insurance, Bajaj Allianz Life Insurance and Bharti AXA Life Insurance.