Mamaearth IPO: Public Issue Picks Up Pace On Day 2, Subscribed 0.7X

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D2C unicorn Mamaearth’s public issue picked up pace on Day 2 of the initial public offering (IPO) on Wednesday (November 1) and was subscribed 0.7X. The issue received bids for 2.01 Cr shares as against 2.88 Cr shares on offer. 

On Day 1, the issue was subscribed a mere 0.13X

The issue saw heavy interest from qualified institutional buyers (QIBs), with the quota reserved for them oversubscribed 1.02X on the second day. It received bids for 1.61 Cr shares as against 1.57 Cr shares on offer. Mamaearth has reserved the highest number of shares for this category.

Meanwhile, the portion reserved for retail investors was subscribed 0.62X, getting bids for 32.34 Lakh shares as against 52.48 Lakh shares on offer.

The employee portion continued to lead the charts and was oversubscribed at 3.19X. It received bids for 1.08 Lakh shares as against 34,013 shares on offer.

The non-institutional investors’ (NIIs) category received bids for 6.89 Lakh shares as against 78.72 Lakh shares reserved for them. The portion saw the lowest subscription at 0.09X.

The public issue will close on November 2. 

Mamaearth has set the price band of the public issue in the range of INR 308-INR 324. The beauty and personal care brand plans to raise up to INR 1,700 Cr through the IPO at  a valuation of $1.2 Bn. 

Mamaearth’s public issue comprises a fresh issue of shares worth INR 365 Cr and an offer for sale (OFS) component of 4.12 Cr.

Earlier, Mamaearth secured INR 765.2 Cr from anchor investors through allocation of 2.36 Cr shares. 

Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, Honasa Consumer, the parent of Mamaearth, retails a range of beauty and personal care products under brands such as Mamaearth, The Derma Co., Ayuga, Aqualogica and Dr Sheth’s. It also operates a chain of salons under the name BBlunt, which it acquired early last year.

The post Mamaearth IPO: Public Issue Picks Up Pace On Day 2, Subscribed 0.7X appeared first on Inc42 Media.

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Mamaearth IPO: Public Issue Picks Up Pace On Day 2, Subscribed 0.7X

D2C unicorn Mamaearth’s public issue picked up pace on Day 2 of the initial public offering (IPO) on Wednesday (November 1) and was subscribed 0.7X. The issue received bids for 2.01 Cr shares as against 2.88 Cr shares on offer. 

On Day 1, the issue was subscribed a mere 0.13X

The issue saw heavy interest from qualified institutional buyers (QIBs), with the quota reserved for them oversubscribed 1.02X on the second day. It received bids for 1.61 Cr shares as against 1.57 Cr shares on offer. Mamaearth has reserved the highest number of shares for this category.

Meanwhile, the portion reserved for retail investors was subscribed 0.62X, getting bids for 32.34 Lakh shares as against 52.48 Lakh shares on offer.

The employee portion continued to lead the charts and was oversubscribed at 3.19X. It received bids for 1.08 Lakh shares as against 34,013 shares on offer.

The non-institutional investors’ (NIIs) category received bids for 6.89 Lakh shares as against 78.72 Lakh shares reserved for them. The portion saw the lowest subscription at 0.09X.

The public issue will close on November 2. 

Mamaearth has set the price band of the public issue in the range of INR 308-INR 324. The beauty and personal care brand plans to raise up to INR 1,700 Cr through the IPO at  a valuation of $1.2 Bn. 

Mamaearth’s public issue comprises a fresh issue of shares worth INR 365 Cr and an offer for sale (OFS) component of 4.12 Cr.

Earlier, Mamaearth secured INR 765.2 Cr from anchor investors through allocation of 2.36 Cr shares. 

Founded in 2016 by husband-wife duo Varun and Ghazal Alagh, Honasa Consumer, the parent of Mamaearth, retails a range of beauty and personal care products under brands such as Mamaearth, The Derma Co., Ayuga, Aqualogica and Dr Sheth’s. It also operates a chain of salons under the name BBlunt, which it acquired early last year.

The post Mamaearth IPO: Public Issue Picks Up Pace On Day 2, Subscribed 0.7X appeared first on Inc42 Media.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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