Mamaearth’s parent company, Honasa Consumer Ltd., launched its shares on the BSE on Tuesday at ₹330, 1.85% over the issue price of ₹324. The company’s ₹1,701-crore initial public offering (IPO), which ended on November 2, was subscribed 7.61 times over, showing significant investor interest.
The subscription period for Honasa Consumer’s IPO began on October 31 and ended on November 2. With the top end of the IPO pricing range and the existing premium on the grey market taken into account, the Mamaearth share price was anticipated to list at ₹355 per share, which is 9.57% more than the ₹324 IPO price, as per reported by livemint.com.
The initial public offering (IPO) of the company has the goal of bringing in 1,701 crores of rupees, and the company’s current shareholders want to sell shares with a value of around 1,336 crores. Each share is being auctioned for a price ranging from 308 to 324.
Today at Exchange NSE India, Honasa Consumer Limited made its NSE debut. One of the top digital-first companies in India for beauty and personal care (BPC) is Honasa Consumer. Mamaearth is a well-known flagship brand for the company. The issue for the public was INR 1,701.00cr.
Mamaearth is a multi-category organic personal care brand that was founded on the Internet. The company sells a variety of goods, such as lip balms, body lotions, shampoos, conditioners, face and body washes, and moisturizers.