Honasa Consumer IPO subscribed 12% on first day of subscription

Honasa Consumer IPO: The Initial Public Offer (IPO) of Honasa Consumer, which owns new-age FMCG brands like Mamaearth and The Derma Co, got subscribed 12 per cent on the first day of subscription on Tuesday. The IPO received bids for 36,07,182 shares against 2,88,99,514 shares on offer, according to NSE data.

The portion for Retail Individual Investors (RIIs) was subscribed 34 per cent while the quota for Qualified Institutional Buyers (QIBs) received 10 per cent subscription. The category for non-institutional investors got subscribed 3 per cent.

The IPO of shares has a fresh issue aggregating up to Rs 365 crore and an offer for sale of up to 4,12,48,162 equity shares by promoters, investors, and other selling shareholders.

The offer comes with a price range of Rs 308-324 a share.

Honasa Consumer on Monday announced that it has mobilised Rs 765 crore from anchor investors.

At the upper end of the price band, the IPO is expected to fetch Rs 1,701.44 crore.

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 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 Sheth's, and built a 'House of Brands' architecture.

Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial and J P Morgan India are the managers to the offer.

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