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Honasa Consumer IPO subscribed 12%

Published on Oct 31, 2023 17:08

The initial public offer (IPO) of Honasa Consumer received bids for 36,07,182 shares as against 2,88,99,514 shares on offer, according to stock exchange data at 17:00 IST on Tuesday (31 October 2023). The issue was subscribed 0.12 times.

The issue opened for bidding on Tuesday (31 October 2023) and it will close on Thursday (2 November 2023). The price band of the IPO is fixed at Rs 308-324 per share. An investor can bid for a minimum of 46 equity shares and in multiples thereof.

The offer comprises fresh issue of equity shares worth up to Rs 365 crore and an offer for sale of 4,12,48,162 equity shares worth Rs 1336.44 crore by existing shareholders.

The promoters and promoter group holds 37.41% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 35.34%.

The objectives for the fresh issue include advertisement expenses worth Rs 182 crore towards enhancing the awareness and visibility of brands, capital expenditure worth Rs 20.6 crore for setting up new EBOs, investment of Rs 26 crore in BBlunt for setting up new salons, and the remaining amount for general corporate purposes.

Ahead of the IPO, Honasa Consumer on Monday, 30 October 2023, raised Rs 765.19 crore from anchor investors. The board allotted 2.36 crore shares at Rs 324 each to 49 anchor investors.

Incorporated in 2016, Honasa Consumer provides beauty and personal care products through its digital platform. The company owns new-age FMCG brands such as Mamaearth, The Derma Co., Aqualogica, Dr. Sheth�s, BBlunt and Ayuga.

Honasa Consumer was the largest digital-first beauty and personal care (BPC) company in India in terms of revenue in FY23. As of 30 June 2023, its portfolio of brands includes products in the baby care, face care, body care, hair care, color cosmetics and fragrances segments.

The company reported a net profit of Rs 25.96 crore and net sales of Rs 464.49 crore for the three months ended on 30 June 2023.

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