Latest News | Honasa Consumer IPO Subscribed 7.61 Times on Last Day of Offer
Get latest articles and stories on Latest News at LatestLY. The Initial Public Offer (IPO) of Honasa Consumer, which owns new-age FMCG brands like Mamaearth and The Derma Co., was subscribed 7.61 times on the last day of subscription on Thursday.
New Delhi, Nov 2 (PTI) The Initial Public Offer (IPO) of Honasa Consumer, which owns new-age FMCG brands like Mamaearth and The Derma Co., was subscribed 7.61 times on the last day of subscription on Thursday.
The Rs 1,701.44 crore IPO received bids for 22,00,35,710 shares against 2,88,99,514 shares on offer, according to NSE data.
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The category for Qualified Institutional Buyers (QIBs) was subscribed 11.50 times, while non-institutional investors quota got 4.02 times subscription. The portion for Retail Individual Investors (RIIs) got subscribed 1.35 times.
The IPO had a fresh issue aggregating up to Rs 365 crore and an Offer For Sale (OFS) of up to 4,12,48,162 equity shares by promoters, investors, and other selling shareholders.
The offer had a price range of Rs 308-324 a share.
Honasa Consumer on Monday announced that it has mobilised Rs 765 crore from anchor investors.
Those who offered 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.
The Gurugram-based beauty and personal care company was founded in 2016 by husband-wife duo Varun and Ghazal Alagh.
It began with the launch of Mamaearth and over the years added five more brands to its portfolio, including The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth's, and built a 'House of Brands' architecture.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial and J P Morgan India were the managers to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)