Personal care and beauty business Honasa Consumer Limited mobilised Rs 765 crore from anchor investors before launching its initial public offering, which opened for public subscription on October 31.
Honasa Consumer Limited’s IPO closes on November 2 and the business has allotted 23,617,228 equity shares to 49 entities at Rs 324 for each share, the Press Trust of India reported. This is at the upper end of the price band, as shown on the Bombay Stock Exchange’s website.
The book running lead managers for the issue are Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India Private Limited. After the conclusion of the IPO, the equity shares of the company will be listed on the Bombay Stock Exchange and on the National Stock Exchange.
Husband and wife entrepreneurs Varun and Ghazal Alagh launched Honasa Consumer Limited in 2016 in Gurugram, according to the business’ website. The business entered the unicorn club in January 2022 after experiencing swift growth.
Honasa Consumer Limited runs on a ‘House of Brands’ model and operates a wide variety of personal care and beauty labels with a direct to customer retail strategy. These include Mamaearth, Aqualogica, Ayuga, BBlunt, The Derma Co, and Dr Sheth’s among others.
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