- The Honasa Consumer IPO, which includes new-age FMCG brands like Mamaearth and The Derma Co, has received strong demand and was oversubscribed 7.60 times by the final day of bidding.
- The IPO received bids for 21,97,73,878 shares against 2,88,99,514 shares on offer, with the Qualified Institutional Buyers (QIBs) category subscribed 11.50 times.
- The category for non-institutional investors was subscribed 4.01 times, while the retail individual investors (RIIs) portion received 1.31 times subscription.
- Ashneer Grover, the co-founder of BharatPe, congratulated Mamaearth for the successful IPO and revealed that he had also quietly applied for the Honasa Consumer IPO.
- The Mamaearth IPO allotment is scheduled for November 7, with the expected listing on November 10. In the grey market, unlisted shares of Honasa Consumer Ltd are trading at a premium of Rs 6 compared to its issue price, suggesting an expected 1.85% listing gain from the public issue.