Mamaearth parent makes muted debut on stock market; shares close 4% higher
Honasa Consumer’s price band for the initial public offering was set at Rs 308-324 per share
Honasa Consumer—the parent of ,, and , among others—saw its shares ending 4.05% higher at Rs 337.15 apiece than its listing price on Tuesday, marking a muted public market debut.
The Mumbai-based company’s shares opened at Rs 330 on the National Stock Exchange (NSE), a premium of 1.8% from its listing price of Rs 324. Its intraday price stood at Rs 340.45 apiece.
Honasa Consumer’s pre-placement offer ended on November 2 and was subscribed 7.61 times on the final day of the book-building, with institutional investors providing the boost.
The book-building offer had started slow on day one and received an overwhelming response from investors on day three, with bids of 22 crore shares as against an offer of 2.8 crore shares, according to data available with stock exchanges.
The price band for the initial public offering (IPO) was set at Rs 308-324 with a lot size of 46 shares.
The Varun and Ghazal Alagh-led beauty and personal care firm aimed to raise Rs 1,701 crore through the IPO, which consisted of fresh issuance of shares worth Rs 365 crore and an offer for sale of 4.13 crore shares.
Edited by Kanishk Singh