Mamaearth’s parent files IPO paperwork to sell fresh shares for $400 million
- ByStartupStory | December 29, 2022
Honasa Consumer Ltd., the parent company of Mamaearth, has submitted its preliminary red herring prospectus for an IPO to the Securities and Exchange Board of India. Through the offer, there would be a new issuance of shares worth Rs 400 crore as well as an offer-for-sale (OFS) component for 46.82 million shares.
Varun Alagh and Ghazal Alagh would all see their stakes in the company fall as a result of the OFS, along with investors Sofina, Fireside Ventures, Evolvence India, Stellaris, and angel investors Kunal Bahl, Rishabh Mariwala, Rohit Bansal, and Shilpa Shetty Kundra.
The company, which in addition to Mamaearth also runs the brands The Derma Co. and BBlunt, was valued at $1.2 billion when it raised money earlier this year.
From April to September 2022, Honasa Consumer reported operational income of Rs 722.73 crore and a profit of Rs 3.67 crore, according to the offer document. The operational revenue for the fiscal year that ended on March 31, 2022, was Rs 943.46 crore, with a profit of Rs 14.43 crore.
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