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Home Asian Business

Honasa Consumer, the company that owns Shark Ghazal Alghani’s ‘MamaEarth’, filed a DRHP

by Chandler
December 31, 2022
Reading Time: 2min read
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Honasa Consumer Limited filed a DRHP with SEBI

Honasa Consumer Limited (the “Company”), the company that owns the popular brand ‘MamaEarth’ and India’s largest digital-first beauty and personal care (“BPC”) company in terms of revenue from operations for the financial year 2021-22, has filed a filing with the Securities and Exchange Board of Markets. of India (“SEBI”) has filed its Draft Red Herring Prospectus (“DRHP”). HONASA CONSUMER LIMITED FILES DRHP WITH SEBI

The company plans to raise funds through an IPO (Initial Public Offerings) offering of equity shares (face value of each equity share ₹ 10). The Offer comprises a fresh issue of equity shares of up to ₹ 400 crore (the “Fresh Issue”) and an offer of 46,819,635 equity shares by the selling shareholders (the “Offer for Sale”).

The company plans to use the funds from the fresh issue to: (1) increase its advertising spend to ₹ 186 crore to increase its brand visibility and awareness; (2) bear the capital expenditure incurred by the Company in setting up the new EBO up to ₹ 34.23 crore; and (3) investment of ₹ 27.52 crore in its subsidiary Bhabani Blunt Hairdressing Private Limited (“Bblunt”) for setting up new salons and for modest corporate purpose and unrecognized inorganic acquisitions.

The offer for sale includes – up to 3,186,300 equity shares by Varun Alagh and 100,000 equity shares by Ghazal Alagh (“Promoter Seller Shareholders”); Up to 220,613 equity shares invested by Evolves India Coinvest PCC through its Cell E, up to 862,987 equity shares by Evolves India Fund III Limited,

7,972,478 equity shares by Fireside Ventures Investment Fund – I, Sofina Ventures S.A. 19,133,948 equity shares by and 12,755,965 equity shares by Stellaris Venture Partners India I (“Investor Selling Shareholders”); 777,672 equity shares by Kunal Bahl, 477,300 equity shares by Rishabh Harsh Mariwala, 777,672 equity shares by Rohit Kumar Bansal and other selling shareholders.

The Equity Shares to be offered through Red Herring Prospectus will be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

The book running lead managers of the issue are: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited and JP Morgan India Private Limited.

.Source

Tags: AlghaniscompanyConsumerDRHPfiledGhazalHonasaMamaEarthownsShark

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