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IPO

Honasa Consumer IPO draws 7.6 times demand

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Honasa Consumer logo
Date
Company
Honasa Consumer
What it does
Mamaearth parent lists
Kind
IPO
Stage
IPO
Based in
Gurugram

What they do

Bids worth about 71.3 billion rupees ($857 million) came in, which was 7.6 times the number of shares on offer

What happened

The maker of Mamaearth, The Derma Co and BBlunt sells through online platforms and over 2,000 stores in 40 cities

Why it matters

Shares slid roughly 21% below the issue price by the end of the first week of trading

The details

  • Honasa Consumer, which owns Mamaearth, opened its public share sale in late 2023.
  • Investors bid 7.6 times the shares offered, worth about 71.3 billion rupees.
  • The group runs a house of brands: The Derma Co, BBlunt, Dr. Sheth's, Aqualogica and Ayuga.
  • Shares fell about 21% below the issue price within a week of listing.

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