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In related news, Honasa Consumer, owner of brands like Mamaearth, The Derma Co, Aqualogica and Dr. Sheth’s, is set to launch its IPO between Monday, October 31 and Wednesday, November 2 with a target to raise Rs 1,950 crore at a price band of Rs 345-355. The IPO consists of fresh equity shares worth Rs 400 crore and an offer-for-sale (OFS) of up to 46.8 million shares involving various investors. After filing its draft red herring prospectus last year and receiving Sebi’s approval in August 2023, Honasa plans to use the IPO proceeds for marketing, capital expenditures for exclusive brand outlets, setting up new salons for its subsidiary BBlunt, acquisitions and general expenses. The unicorn company has raised $126 million till date and is valued at $1.05 billion. It reported a doubled revenue of Rs 952 crore and a net profit of Rs 19.8 crore in FY22. Mamaearth, one of Honasa’s brands and the fastest growing beauty and personal care (BPC) brand in India, has expanded its offline distribution through exclusive brand outlets across the country, achieving an annual revenue milestone of Rs 1,000 crore.
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