Mamaearth neither quoted nor subscribed to the valuation numbers which are doing the rounds on social media, co-founder of the company, Ghazal Alagh said on Wednesday, clearing the air on the firm’s valuation for its initial public offering (IPO).
Responding to social media users who expressed concern about the company’s valuation demand, Alagh stated, “In our DRHP, as is standard practise, there is no mention of valuation.” “We have not quoted or subscribe to the valuation numbers that are being mentioned in various posts on social media,” the personal care products startup’s co-founder wrote in a series of tweets. Alagh went on to say, “Valuation discovery is a process that will take place over time as we engage in deeper conversations with the investor community.”
