D2C Unicorn Mamaearth Gives Bonus Shares Worth of $17.4 Mn to Investors including its Founders
- ByStartupStory | May 17, 2022
D2C unicorn Mamaearth is one of the leading beauty care brands founded by Varun Alagh has given 136 Million shares as bonus shares to its 12 investors including Founders. In a meeting earlier this month, the Gurugram-based D2C brand resolved to award extra equity shares in the ratio of 1:12,899, indicating it would provide investors and founders 12,899 equity shares for every equity share they own.
The bonus shares will be worth $17.4 million in total (INR 136.03 Cr). For having a sum of 8,282 equity shares, founder Varun Alagh will get 106.8 million bonus shares. For owning 788 equity shares, Ghazal Alagh the CO-Founder would receive a bonus of 10 million shares. Sequoia Capital, which has 621 equity shares, would earn 8 million bonus shares, followed by Sofina Ventures which would be receiving 3.3M shares for 256 equity shares.
Other investors who will get bonus equity shares include Fireside Ventures, Shilpa Shetty Kundra Stellaris Ventures, and Evolvence India
Mamaearth joined the unicorn club approximately five months ago after raising $52 million at a worth of over $1 billion. Sequoia Capital, Mamaearth’s largest investor, led the investment. Evolve and Sofina Ventures also took part in the round.
Mamaearth, founded in 2016, began offering infant care items before expanding to become a comprehensive personal care company.
The company sells a variety of items, including hair and skincare care, as well as body care. It says that its products have undergone dermatological testing and have been authorised by the FDA. It further says that the items have been certified as “Made Safe.” Mamaearth paid roughly INR 134 crore to Godrej Consumers in February for the hair colour brand BBBlunt. Honasa Consumer, Mamaearth’s parent business, agreed to buy all of BBBlunt’s salons under the ‘Bhabani Blunt Hairdressing’ moniker as part of the arrangement.
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