Onest files DRHP with SEBI for the proposed IPO; Key Details here

Onest is into Consumer FMCG and is looking raise funds through Fresh Issue and Offer for Sale

Onest to raise Fresh Issue aggregating up to Rs 77 crores and an Offer for Sale up to 3,250,000 Equity Shares through public issue IPO

Onest IPO: Onest 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 aggregating up to Rs. 77 crores and an Offer for Sale up to 3,250,000 Equity Shares. Monarch Networth Capital, Unistone Capital have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. 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. 77 Crs and offer-for-sale (OFS) of up to 3,250,000 equity shares by Pawan Kumar Gupta, Glentrade DMCC, Ramesh Girdharilal Lulla, Rahul Porwal, Pankaj Jain, Piyush Dungarpuria, R. Sambhu Kumar, who will offload up to 2,664,625 equity shares , up to 468,750 equity shares, up to 62,250 equity shares, up to 30,000 equity shares, up to 15,000 equity shares, up to 7,500 equity shares and up to 1,875 equity shares respectively... Objects of the issue is Funding working capital requirements of the Company to the tune of around Rs60 crores, and General corporate purposes.

About Company:
Mumbai based Onest Ltd. established in 2019 is into Fast Moving Consumer Goods (FMCG). Company caters to home care and personal care products, food products and household products catering to B2B2C and B2B customers in domestic and export markets. It is also engaged in the Non-Fast Moving Consumer Goods (“Non-FMCG”) market with a range of industrial products, catering to B2B customers.

About Industry:
The global household and personal care product market is valued at USD 4,01,456 million in 2022 with 6.2% of y-o-ygrowth. In the year 2022, the Indian market size was valued at USD 19,746 million that recorded about 8.7% of growth compared to the previous year. For the period 2024-2028, India is forecasted to make faster growth at CAGR of 7.8%. The household and personal care market is forecasted to grow at CAGR of 5.6% over the period 2024 -2028.

Source: SEBI, BSE, NSE, DRHP, Company, 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.