Last Updated: November 09, 2023, 15:33 IST
Mamaearth Share Price: Recently listed, shares of Mamaearth’s father or mother Hosana Consumer continued their downward pattern, falling nearly 5 per cent on Thursday, after a tepid itemizing on November 9.
Since its itemizing on Tuesday, November 7, the inventory has been on a downward spiral and presently buying and selling at a reduction of 4.6 per centfrom the preliminary public providing (IPO) subject value of Rs 324.
The inventory was listed at a premium of two per cent on the NSE at Rs 330 and the excessive for this inventory has been Rs 340.45 on the intraday foundation.
“Honasa Consumer, a leading Indian beauty and personal care (BPC) company, made its stock market debut today at Rs 330 per share, a premium of around 2 percent to its IPO price of Rs 324. The IPO was subscribed to 7.95 times, which is a good subscription level. While Honasa Consumer is still a relatively young company, it has quickly grown to become a major player in the Indian BPC market. The company has a diverse product portfolio that includes face care, baby care, hair care, body care, color cosmetics, and fragrances. However, the financial condition of the company is facing some turbulence, and there are other operation-related risks as well,” advised Shivani Nyati, Head of Wealth, Swastika Investmart.
After receiving an honest subscription, Stock was in a position to give a optimistic itemizing. Investors at the moment are advised to ebook revenue and exit their place.
The Honasa Consumer IPO was open between October 31 and November 02 and the value band was set within the vary of Rs 308-324 apiece with rather a lot dimension of 46 shares. The IPO raised a complete Rs 1,701 crore, which included a contemporary subject of Rs 365 crore and a proposal-for-sale (OFS) of as much as 4.12 crore fairness shares.
The IPO has been subscribed 7.61 occasions on day 3. Mamaearth IPO retail buyers portion was subscribed 1.35 occasions, the NII portion was subscribed 4.02 occasions, and Qualified Institutional Buyers (QIB) portion was booked 11.50 occasions, and the worker portion was subscribed 4.87 occasions.
It additionally raised a capital of Rs 765.20 crore from anchor buyers on Monday, October 30. Seven outstanding mutual funds invested Rs 253 crore within the Mamaearth IPO, receiving 33.1% of the anchor allocation
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