Mamaearth Parent Files Draft Paper With Sebi For IPO

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Honasa Consumer, the first unicorn of 2022 and parent company to brands like Mamaearth, The Derma Co, and BBlunt, has filed draft papers with Sebi for listing in order to raise funds through a combination of a fresh issue and an offer-for-sale.

Varun and Ghazal Alagh (of ‘Shark Tank’ fame) co-founded the fast-growing D2C (direct to consumer) firm in 2016 in the beauty, babycare, and skincare segments. It achieved unicorn status after raising $52 million at a valuation of $1.2 billion in a fundraising round led by top VC firm Sequoia Capital in January.

The Alaghs, Sofina Ventures SA, Evolvence, Fireside Ventures, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, Bollywood actress Shilpa Shetty Kundra, Rishabh Harsh Mariwala, and Rohit Kumar Bansal are among the shareholders who will dilute their holdings. Sequoia Capital is not taking part in the OFS.

The net proceeds of the IPO will be used for advertising to increase brand visibility and awareness, opening new exclusive brand outlets, investing in BBlunt to open new salons, general corporate purposes, and inorganic growth.

Mamaearth’s filing with the market regulator comes on the back of another filing back in January by a peer in the bustling D2C space – Warburg Pincus backed boat. The audio focused electronics brand is looking to raise around Rs 2,000 crore.

Kotak Mahindra Capital, JM Financial, Citi and JP Morgan are the investment banks working on the IPO and Cyril Amarchand Mangaldas, Indus Law and Khaitan & Co are the legal advisors.



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