Shares of Honasa Consumer that operates famous Mamaearth outlets saw a rather quiet listing at the bourses on Tuesday. After listing at the issue price at ₹324 on the BSE, the stock moved between a low of ₹322 and a high of ₹344 before settling at ₹337.15, up 4 per cent over IPO price. On the NSE, the stock opened at ₹330 and closed at ₹337.30.

The IPO created a major buzz on social media on valuation front. However, despite that, it received a strong response and was subscribed 7.61 times.

Offer details

The offering comprises a fresh issue of equity shares amounting to ₹365 crore, alongside an Offer for Sale (OFS) of up to 4.125 crore shares by various stakeholders, including promoters, founders and investors. Co-founders and promoters - Varun Alagh and Ghazal Alagh - and investors such as Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala, the son of Harsh Mariwala (Founder and Chairman of Marico), and Bollywood actor Shilpa Shetty Kundra are selling shares in the OFS. 

Anchor investors

The IPO raised ₹765.20 crore from anchor investors, including prominent FPIs such as Capital Group (through Smallcap World Fund Inc), Fidelity International Ltd, Norges Bank, Abu Dhabi Investment Authority, First Sentier (First State Investments), White Oak, Franklin Templeton, Kotak, DSP, Carmigniac Gestion, Loomis Sayles, Matthews, Pictet, and Hornbill. 

Among the domestic investors were ICICI Prudential, Aditya Birla Sun Life, Nippon, Axis, Canara Robeco, Invesco, and MF of White Oak MF, besides insurance companies such as SBI Life Insurance, ICICI Life Insurance, Birla Life Insurance, Max Life Insurance, Bajaj Allianz Life Insurance, and Bharti AXA Life Insurance.

The Gurugram-based beauty and personal care company started with the launch of Mamaearth, and over the years has added several more brands to its bouquet such as The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth’s

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