Honasa Consumer (Mamaearth) IPO GMP, Subscription Status: Ashneer Grover on Thursday congratulated Mamaearth for the IPO getting oversubscribed 8 occasions and mentioned he additionally utilized for the Honasa Consumer IPO “quietly”. The preliminary public providing of Honasa Consumer, which owns new-age FMCG manufacturers like Mamaearth and The Derma Co, closed on Thursday.
On the ultimate day of bidding, the Rs 1,701-crore IPO has been subscribed 7.60 occasions, receiving bids for 21,97,73,878 shares in opposition to 2,88,99,514 shares on provide.
The class for non-institutional buyers was subscribed 4.01 occasions, whereas the retail particular person buyers (RIIs) portion obtained 1.31 occasions subscription. The quota for certified institutional consumers (QIBs) acquired subscribed 11.50 occasions.
Mamaearth IPO allotment will happen on November 7, and the itemizing is more likely to happen on November 10.
Honasa Consumer IPO GMP Today
According to market observers, unlisted shares of Honasa Consumer Ltd stay Rs 6 larger within the gray market as in comparison with its concern worth. The Rs 6 gray market premium or GMP is about 1.85 per cent larger than its higher concern worth of Rs 330 per share. This means the gray market is anticipating a 1.85 per cent itemizing acquire from the general public concern.
‘Grey market premium’ signifies buyers’ readiness to pay greater than the problem worth.
About Honasa Consumer IPO
The IPO has a recent concern aggregating as much as Rs 365 crore and a proposal on the market (OFS) of as much as 4,12,48,162 fairness shares by promoters, buyers, and different promoting shareholders.
The provide comes with a worth vary of Rs 308-324 a share. Honasa Consumer on Monday introduced that it has mobilised Rs 765 crore from anchor buyers.
At the higher finish of the worth band, the IPO is predicted to fetch Rs 1,701.44 crore. Those providing shares within the OFS embody promoters — Varun Alagh and Ghazal Alagh — and buyers like Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra.
The Gurugram-based magnificence and private care firm was based in 2016 by the husband-spouse duo Varun and Ghazal Alagh. It started with the launch of Mamaearth and over time 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.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial and J P Morgan India are the managers to the provide.
