Mamaearth's parent firm Honasa Consumer Ltd to launch IPO on October 31 with a reduced offer size.
According to the RHP, the D2C brand plans to issue fresh shares worth ₹365 crore along with an offer for sale (OFS) of 41.25 million shares. The proceeds of the fresh issue will be lower than the ₹400 crore proposed in the Draft RHP filed in December last year.
The D2C firm reported a net loss of ₹151 crore in FY23. It had reported a net profit of ₹14.4 crore in the previous fiscal. Its total operating revenue stood at ₹1,492.7 crore in FY23, from ₹943.4 crore in FY22. - The Hindu Businessline
About Mamaearth
Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, Mamaearth has become a leading skincare and beauty brand focused on toxin-free, natural ingredients. Mamaearth is backed by investors like Sequoia and has achieved the rare feat of becoming profitable as a D2C startup. The IPO is likely to value the company at over ₹10,500 crore billion.
