Mamaearth parent Honasa Consumer eyes IPO on Oct 31 at Rs 10,500 Cr valuation: Report

Gurugram-based Honasa Consumer, Mamaearth's parent, is reportedly planning to launch its initial public offering (IPO) on October 31, 2023, seeking to raise Rs 1,700 crore at a valuation of Rs 10,500 crore.

According to a report by Moneycontrol, while the IPO is scheduled for October 31 to November 2, the anchor portion will open on October 30. However, there is no plan for a pre-IPO round.

YourStory could not independently verify the report.

Earlier, in December 2022, the company had submitted a Draft Red Herring Prospectus to the Securities and Exchange Board of India (SEBI).

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In March this year, Mamaearth had put its IPO plans to raise $200-300 million on hold due to weak market conditions, according to a Reuters report.

Further, in August 2023, the D2C personal care brand was reported to raise about $120-150 million in a new funding round ahead of its planned IPO, as per a report by Moneycontrol.

The report noted that Mamaearth has held preliminary discussions with investors, including SoftBank, sovereign wealth funds like Singapore's GIC and Qatar Investment Authority (QIA), and pre-IPO investors, including Fidelity Investments. The D2C firm was targeting a valuation of $1.5 billion, largely through a secondary share sale.

Founded in 2016 by Varun Alagh and Ghazal Alagh, Honasa Consumer runs brands like Mamaearth, The Derma Co., Aqualogica, and Ayuga, and has acquired stakes in BBlunt and Dr Sheths.