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Mamaearth IPO: Honasa Consumer, the parent company of beauty product brand Mamaearth, is about to bring its IPO. The company has filed a draft paper (Draft Red Herring Prospectus) with the Securities and Exchange Board of India (Securities and Exchange Board of India), the regulator of the stock market, to bring the IPO. It is believed that Shilpa Shetty Kundra, who holds a stake in the company, will sell her stake through IPO.
Shilpa Shetty will sell her steak
Honasa Consumer will issue shares with a face value of Rs 10 in the IPO. In Mamaearth’s IPO, Rs 400 crore will be raised through fresh issue, while the existing shareholders of the company will sell 46,819,635 crore shares under the offer for sale. In the offer for sale, the promoter of the company, Varun will sell 3,186,300 shares and Ghazal will sell 1 lakh shares. Apart from this, Kunal Behl will sell 777672 shares, Rishabh Harsh Mariwala 477300 shares, Rohit Kimar Bansal 777672 shares and Shilpa Shetty Kundra 554700 shares in IPO.
IPO amount will be spent here
The company will invest Rs 186 crore in the head of advertisement, Rs 34.23 crore in the head of capital expenditure and Rs 27.52 crore in subsidiary company BBlunt from the amount raised from the fresh issue in the IPO. Mamaearth’s shares will be listed on BSE and SSE. The company has appointed Kotak Mahindra Capital Company, Citigroup Global Markets, JM Financial and JP Morgan as book running lead managers for the IPO.
In conversation with Shark Tank India!
Let us tell you that Ghazal Alagh, the promoter of Mamaearth, participated as a judge in Sony TV’s startup show Shark Tank India and she came in for a lot of discussion. However, she is not seen in the new season of the show starting on January 2.
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