Ahead of IPO, Mamaearth shuts down Its most expensive Acquisition Momspresso

HomeStock MarketAhead of IPO, Mamaearth shuts down Its most expensive Acquisition Momspresso

Published on

October 25, 2023

Mamaearth appears to have shut down or significantly scaled down its acquisition, Momspresso, in preparation for its IPO.
Mamaearth’s Red Herring Prospectus (RHP) revealed that the startup’s board decided to “scale down” most of Momspresso’s business verticals, suggesting a strategic shift.
Momspresso had been facing financial challenges, reporting a net loss of INR 5.4 crore in Q1 FY24 and INR 21 crore in FY23, which may have contributed to the decision.
This move by Mamaearth to discontinue or downsize Momspresso suggests a reevaluation of its portfolio in preparation for its IPO.