Honasa Consumer gears up for Bombay Stock Exchange listing
2023.10.30 05:42
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Honasa Consumer, the parent company of direct-to-consumer brands Mamaearth and DermaCo, is preparing to make its debut on the Bombay Stock Exchange. Founders Ghazal and Varun Alagh are gearing up for this significant event, following their successful strategy in building these renowned brands.
The initial public offering (IPO) has been priced between Rs 308-324 ($1 = Rs 83.25) per share, which places the company at a valuation of Rs 10,425 crore (Rs 1 crore = $120,127). The offering includes a fresh equity issue of Rs 365 crore along with an offer for sale of approximately 40.12 million shares.
Shantanu Deshpande, CEO of Bombay Shaving Company, acknowledged the strategic success of the founders on LinkedIn. The Alaghs’ effective brand-building strategy has been key to their growth and impending stock exchange listing.
The company intends to use the proceeds from the IPO strategically for advertising expenses and capital expenditure, furthering their growth in the consumer goods sector. This marks a significant milestone for Honasa Consumer as it continues to expand its influence in the direct-to-consumer market.
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