Beauty & Personal Care Unicorn Mama Earth's Parent Company Set To Launch Rs 1,700 Cr IPO Before Diwali

New Delhi: Mama Earth's parent company, Honasa Consumer Limited (HCL), is set to launch its initial public offering (IPO) worth Rs 1,700 crore on October 31, 2023. This unicorn has received approval for the listing from the Securities and Exchange Board of India (SEBI).

This timing is significant because the festive season of Diwali is approaching, and the market is buzzing with consumer spending and shopping.

The Direct-To-Consumer (D2C) brand offers a wide range of beauty and personal care products and is valued at over $1 billion. The company was founded by the husband-wife duo of Varun and Ghazal Alagh in 2016. 

The public issue is expected to be open from October 31 to November 02. According to the Draft Red Herring Prospectus submitted by the company to SEBI, the company is supposed to offer a fresh issue of 46,819,635 equity shares.

The company's top two promoters are Varun Alagh, offering up to 3,186,300 equity shares, and Ghazal Alagh, offering up to 100,000 equity shares. In addition to them, Snapdeal co-founder Kunal Bahl and Bollywood veteran Shilpa Shetty Kundra are also offering a substantial part of their shares, up to 777,672 and 554,700 equity shares, respectively.