The fresh issue of Honasa Consumer Private Limited is up to Rs 400 crore.
The firm was started in 2016 by the husband-wife duo of Shark Tank fame Varun and Ghazal Alagh.
It became a billion dollar personal care house of brands in just five years.
new Delhi. Investors desirous of making fast profits in the stock market always wait for the IPO of new companies. A useful news has come for such investors. Honasa Consumer Private Limited, the first unicorn of the year 2022 and parent company of brands like Mamaearth, The Derma Co and BBlunt, has filed draft papers to raise money through offer for sale. Shilpa Shetty will also sell her stake in this.
This fast growing D2C (Direct to Consumer) firm in the beauty, babycare and skincare segments was started in 2016 by Varun and Ghazal Alagh (husband-wife duo) after their popularity from Shark Tank. Moneycontrol said in a report that according to the draft red herring prospectus, the fresh issue of Honasa Consumer Pvt Ltd is worth up to Rs 400 crore. While the OFS for outside investors and individual investors is up to 46,819,635 equity shares.
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Company became the first unicorn of 2022
Honsa Consumer Private Limited became the first unicorn of the year in India in the first week of January 2022 itself. At that time it had raised $52 million led by top venture capital firm Sequoia Capital to reach a valuation of $1.2 billion. In the beginning of 2022 itself, Honasa Consumer Private Limited was supplying its products in more than one thousand cities of the country. It became a billion dollar personal care house of brands in just five years.
Many celebrities including Shilpa Shetty will sell stake
The report states that Alagh Kapal, Sofina Ventures SA, Evolvance, Fireside Ventures, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, Bollywood actress Shilpa Shetty Kundra, Rishabh Harsh Mariwala and Rohit Kumar Bansal do not want to participate in the OFS. I will reduce my holding. The combined size of the company’s IPO could be between Rs 2,400 crore and Rs 3,000 crore. However, its exact size will depend on the final valuation at the time of listing.
What will the company do with the money raised from the IPO?
The funds raised through the IPO will be used for the Company’s advertising expenses to increase brand visibility and awareness, opening new exclusive brand outlets, investing in BBlunt to set up new salons, general corporate purposes. According to the report, investment banks Kotak Mahindra Capital, JM Financial, Citi and JP Morgan working on the IPO and Cyril Amarchand Mangaldas, Indus Law and Khaitan & Co are its legal advisors.
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FIRST PUBLISHED : December 29, 2022, 12:40 IST