Honasa Consumer, the parent entity of beauty and skin brand Mamaearth and The Derma Co, on Thursday said that its initial public offering (IPO) will open for subscription on 31 October and conclude on 2 November. The company has fixed the price band of Rs 308 to Rs 324 per share for its Rs 1,701 crore issue.
The IPO comprises a fresh issue of equity shares worth Rs 365 crore and an offer-for-sale (OFS) component of 4.12 crore equity shares by promoters, investors and other selling shareholders.
Those offering shares in the OFS include promoters, 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.
Considering the upper end of the band, Mamaearth is aiming to raise about Rs 1,701.44 crore. As per the company, the proceeds from the fresh issue would be utilised 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.
As per media repots, nearly 75 per cent of the issue has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining for retail investors. Investors can bid for a minimum of 46 equity shares and its multiple.
JP Morgan, Kotak Mahindra Capital Company, Citigroup Global Markets India and JM Financial are the book-running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.
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