Honasa Consumer IPO to open on Oct 31
image for illustrative purpose
New Delhi: Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, is set to launch its Initial Public Offering (IPO) on October 31.
The issue will conclude on November 2 and the anchor book of the offer will open for a day on October 30, according to the red herring prospectus. The IPO comprises a fresh issue of equity shares worth Rs365 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 promoteRsand foundeRs-- Varun Alagh and Ghazal Alagh -- and investoRslike Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra. 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.
