Honasa Consumer Ltd Mobilizes Rs 765 Crore From Anchor Investors Ahead of IPO

New Delhi, Oct 30: Honasa Consumer Ltd, the parent company of new-age FMCG brands like Mamaearth and The Derma Co, announced on Monday that it has raised Rs 765 crore from anchor investors ahead of its initial public offering (IPO). The company allotted 2,36,17,228 equity shares to 49 entities at Rs 324 apiece, which is the upper end of the price band, according to a circular uploaded on the BSE's website.

Anchor Investors

Among the anchor investors are Aditya Birla Sun Life Mutual Fund MF, Axis MF, Nippon India MF, Invesco MF, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, Government Pension Fund Global, Caisse De Depot Et Placement Du Quebec, SmallCap World Fund Inc, Abu Dhabi Investment Authority, and Goldman Sachs Singapore.

IPO Details

The IPO comprises a fresh issue of equity shares worth Rs 365 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 investors like Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra.

The public issue will open for public subscription on October 31 and conclude on November 2. Investors can bid for a minimum of 46 equity shares and in multiples thereof. The price band has been set at Rs 308-324 per share for its IPO. At the upper end of the price band, the IPO is expected to fetch Rs 1,701.44 crore.

About Honasa Consumer Ltd

The Gurugram-based beauty and personal care company was founded in 2016 by the 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 Sheths, and built a House of Brands architecture. In January 2022, the company had entered the unicorn club.

The Honasa Consumer Ltd IPO has generated significant interest among investors, with the company mobilizing Rs 765 crore from anchor investors ahead of its public offering. The IPO is expected to be a major success, reflecting the strong demand for new-age FMCG brands and the company's robust growth potential.