Tuesday, October 31, 2023

Prior to its IPO, Mamaearth raises Rs 765 crore from anchor investors

 NEW DELHI: Honasa Buyer, the parent organization of Mamaearth has raised Rs 765.2 crore from 49 anchor financial backers in front of its first sale of stock (Initial public offering) send off on October 31.

Smallcap World Asset, Devotion Assets, Abu Dhabi Speculation Authority, Goldman Sachs among others put resources into the organization by means of the anchor book. For the anchor segment, the firm has distributed 2.36 crore shares at Rs 324 each.

The organization has additionally allotted shares worth Rs 253.6 crore to homegrown common assets. " Seven Homegrown Common Assets have applied through a sum of 19 plans," the organization said in a trade recording.

Mamaearth's Initial public offering comprises of a new issue of offers worth Rs 365 crore and a proposal available to be purchased (OFS) of up to 4.12 crore shares. Those offering partakes in the OFS incorporate advertisers and pioneers Varun Alagh and Ghazal Alagh and financial backers like Fireside Adventures, Sofina, Stellaris Adventure Accomplices, Snapdeal prime supporters Kunal Bahl and Rohit Kumar Bansal, Rishabh Brutal Mariwala and Bollywood entertainer Shilpa Shetty Kundra. At the upper finish of the cost band, the Initial public offering is supposed to bring about Rs 1,701 crore. The organization has set a value band of Rs 308-Rs 324 for every offer for its Initial public offering.

The deal will close on November 2.

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