BENGALURU: Honasa Consumer Limited (HCL), the parent firm of Mamaearth, will launch its initial public offer (IPO) on October 31, and the price band of the offer has been fixed at Rs 308 to Rs 324 per equity share. The offer will close on November 2.
The total offer size comprises a fresh issue of shares aggregating up to Rs 365 crore and an offer for sale (OFS) of up to 4.12 crore equity shares. Those offering shares in the OFS include promoters and founders Varun Alagh and Ghazal Alagh and investors like Fireside Ventures, Sofina, Stellaris Venture Partners, Snapdeal co-founders Kunal Bahl and Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra.
The IPO is expected to fetch over Rs 1,700 crore. Bids can be made for a minimum of 46 equity shares. Also, a discount of Rs 30 per equity share is being offered to eligible employees bidding in the employee reservation portion. The company had a turnaround in Q1FY24, reporting a net profit of Rs 24.71 crore as against a net loss of Rs 11. 52 crore in Q1FY 23 and a net loss of Rs 151 crore in FY23. The company said it is on the cusp of an increase in profitability.