Honasa Consumer, the parent company of Mamaearth, is scheduled to open its IPO for public issue on Tuesday, October 31, 2023 and it will close on Thursday, November 2, 2023. The price band for its public issue at Rs 308-324 per equity share of face value Rs 10 each. The IPO comprises a fresh issue of shares aggregating up to Rs 365 crore and an offer-for-sale (OFS), with promoters offloading 41,248,162 shares. The lot size of the Honasa IPO is of 46 shares with subsequent bids in multiple lots of 46 equity shares each. The minimum amount of investment required by retail investors is Rs 14,904.
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The Basis of Allotment is scheduled for Tuesday, November 7, 2023, and the initiation of refunds will take place on Wednesday, November 8, 2023. The expected Credit of Shares to Demat is on Thursday, November 9, 2023, while the expected listing date of shares is Friday, November 10, 2023.
The company intends to use the net proceeds from the IPO for the Advertisement expenses towards enhancing the awareness and visibility of the company’s brands, Capital expenditure to be incurred by the Company for setting up new EBOs, Investment in the company’s Subsidiary, Bhabani Blunt Hairdressing Private (BBlunt) for setting up new salons and General corporate purposes and unidentified inorganic acquisition.
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Honasa Consumer (HCL) is a digital platform offering beauty and personal care products in over 500 Indian cities. It has grown popular brands like Mamaearth, The Derma Co, Dr Seth’s, Ayuga and Aqualogica. The company has also made strategic investments in BBLUNT and Momspresso. HCL’s product portfolio includes baby care, face care, body care, hair care, color cosmetics, and fragrances. Backed by prominent investors, HCL is poised to reach a $1 billion valuation.
