Honasa Consumer is into Consumer Beauty and Personal Care and is looking raise funds through Fresh Issue and Offer For Sale
Honasa Consumer IPO: Honasa Consumer Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 400 Cr and an Offer for Sale of up to 46,819,635 Equity Shares. Kotak Mahindra Financial, Citigroup Global, JM Financial, J.P. Morgan have been appointed as lead merchant bankers for the proposed IPO. It has appointed Kfin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 400 Crs and offer-for-sale (OFS) of up to 46,819,635 equity shares by Varun Alagh (Promoter), Ghazal Alagh (Promoter), Evolvence India Coinvest PCC, invested through its Cell E, Evolvence India Fund IIILtd, Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rishabh Harsh Mariwala, Rohit Kumar Bansa and Shilpa Shetty Kundra who will offload Upto 3,186,300 Equity Shares, Upto 100,000Equity Shares, Up to220,613Equity Shares, Up to 862,987 Equity Shares, Up to 7,972,478 Equity Shares, Up to 19,133,948 Equity Shares, Up to 12,755,965 Equity Shares, Up to 777,672 Equity Shares, Up to 477,300 Equity Shares, Up to 777,672 Equity Shares and Up to 554,700 Equity Shares respectively...
Objects of the issue:
1) For Advertisement expenses towards enhancingthe awareness and visibility of brands - Rs. 186 Cr. , 2) Capital expenditure for setting up new EBOs - Rs. 34.2 Cr , 3) Investment in the Subsidiary, Bhabani Blunt Hairdressing Pvt Ltd.- Rs. 27.5 cr., and 4) General Corporate Purpose.
Promoters of Honasa Consumer are Varun Alagh and Ghazal Alagh and holds 37.68% stake in the company.
About Company:
Honasa Consumer established in 2016. Company own brands including mamaearth, The derma, Aqualogica, Ayuga, BBlunt and Dr. Sheth's. It is the largest digital-first BPC ( digital-first beauty and personal car) company in India in terms of revenue from operations for FY22 (Source: RedSeer Report). Company has portfolio of six BPC brands with differentiated value propositions and flagship brand, Mamaearth, has emerged as the fastest growing BPC brand in India to reach an annual revenue of ₹10 billion (in the preceding 12 months i.e. from Oct'21-Sep'22) within six years of launch (Source: RedSeer Report).
About Industry:
The market for BPC products in India is expected to grow from approximately US$ 17 billion in 2021 to approximately US$ 30 billion in 2026 at a CAGR of approximately 12%, which is among the highest within the broader retail categories and faster than other retail categories in India during this period. The BPC products market lends itself well to digital penetration and the online BPC market, which is currently sized as US$ 2.5 billion, is expected to grow at 27% annually to be around US$ 8.4 billion by 2026, translating to an online penetration of 28%.
Source: SEBI, BSE, NSE, DRHP, Honasa Consumer, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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