Honasa Consumer sets price band at Rs 308-324/share

New Delhi: Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, on Thursday fixed a price band of Rs308 to Rs324 per share for its Rs1,701-crore initial public offering (IPO).

The issue will open for public subscription on October 31 and conclude on November 2 and the anchor book of the offer will be opened for a day on October 30, the company announced. 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 promoteRs-- 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. At the upper end of the price band, the IPO is expected to fetch Rs1,701.44 crore. 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.