Mamaearth, a D2C startup, is gearing up for its IPO and transition to a public company
- ByStartupStory | November 11, 2022
As it prepares for an IPO, Gurugram-based D2C babycare and skincare unicorn Mamaearth has become a public company. The business will soon file its initial red herring prospectus in preparation for its 2023 initial public offering (DRHP).
Mamaearth’s parent business, formerly known as Honasa Consumer Private Limited, is now known as Honasa Consumer Limited, according to papers.
For those without prior experience, becoming a public business is the initial step toward applying for a public listing. The business then submits a DRHP to the Securities Exchange Board of India (SEBI), explaining the amount it would raise, how the money will be used, and the state of its finances. Mamaearth, which is run by husband-and-wife team Ghazal and Varun Alagh, turned profitable in FY22, reporting a net profit of INR 19.8 Cr on a stand-alone basis (against a net loss of INR 1,332.2 Cr in FY21). Furthermore, its operating revenue increased by over 2X year-over-year (YoY) to INR 931 Cr, whereas expenses decreased by almost half to INR 924.6 Cr in FY22. The startup, which was founded in 2016, launched as a babycare company before later diversifying to provide skincare and cosmetics. When the D2C house of brands raised $38 million in its Series F round in late December 2021, it transformed into a unicorn.
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