Mamaearth parent Honasa Consumer receives Sebi go ahead for IPO

Skincare brands Mamaearth and The Derma Co’s parent company Honasa Consumer Limited has been given clearance by the Securities and Exchange Board of India to raise funds through an initial public offering. 

Honasa Consumer has filed its preliminary IPO papers with Sebi in December last year and received its green light in the form of Sebi’s observations letter at the end of July, according to Sebi’s update on August 3, the Press Trust of India reported. As per its draft papers, Honasa Consumer’s IPO will comprise a fresh issue of equity shares which will be worth up to Rs 400 crore. 
 
The IPO will also include an offer for sale of up to 46,819,635 shares which will be sold by the company’s promoters and existing shareholders. Shareholders who plan on selling shares as part of the offer for sale include Bollywood celebrity Shilpa Shetty Kundra, Sofina Ventures, and Kunal Bahl among others, ET Bureau reported. 

Shares of Honasa Consumer will be listed on both the Bombay Stock Exchange and the National Stock Exchange. As well as The Derma Co and Mamaearth, Honasa Consumer has stakes in brands including Bblunt, Momspresso, Ayuga, and Aqualogica, according to the business’ Linkedin page.