Curated By: Business Desk
Last Updated: October 25, 2023, 13:44 IST
Honasa would be the fourth IPO launching within the present month, after IRM Energy, Blue Jet Healthcare, and Cello World.
The IPO of the Gurugram-based direct-to-shopper firm entails a brand new issuance of shares valued at Rs 365 crore
On October 31, Honasa Consumer is poised to begin its preliminary public providing (IPO). The anchor ebook for the difficulty shall be accessible for a single day on October 30, and the general public providing will conclude on November 2.
According to a report by Moneycontrol, the worth band for the difficulty shall be introduced within the coming days.
The IPO of the Gurugram-based direct-to-shopper firm entails a brand new issuance of shares valued at Rs 365 crore, together with a suggestion-for-sale (OFS) of 4.12 crore fairness shares by promoters and buyers.
If the overall providing measurement is roughly Rs 1,700 crore, the OFS measurement might be round Rs 1,335 crore.
The OFS entails the next promoting shareholders: Varun Alagh, Ghazal Alagh, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansal, and Shilpa Shetty Kundra.
The firm has additionally reserved Rs 1 crore value shares for its staff.
Out of the web proceeds from the recent challenge, the corporate plans to allocate Rs 182 crore for promoting bills and Rs 20.6 crore for the institution of latest Exclusive Brand Outlets (EBOs). Additionally, an funding of Rs 26 crore is earmarked for subsidiary Bhabani Blunt Hairdressing (BBlunt) to arrange new salons. The remaining funds shall be utilized for normal company functions and undisclosed inorganic acquisitions.
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The firm is scheduled to find out the premise of allotment for IPO shares by November 7, with the fairness shares anticipated to be deposited into the demat accounts of profitable buyers by November 9.
The itemizing of its fairness shares will happen on the BSE and NSE, with impact from November 10, the T+6 timeline, as per the IPO schedule, Moneycontrol reported.
Merchant bankers to the difficulty are Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India, whereas KFin Technologies is the registrar to the provide.
Honasa would be the fourth IPO launching within the present month, after IRM Energy, Blue Jet Healthcare, and Cello World.
The firm was based in 2016 by husband-spouse duo Varun and Ghazal Alagh. It started with the launch of Mamaearth and through the years added 5 extra manufacturers to its portfolio, together with The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth’s, and constructed a ‘House of Brands’ structure.
In January 2022, the corporate entered the unicorn membership.
