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The promoters of the IPO-bound company Mamaearth own 97% of the company

Even though Honasa Consumer Limited’s plans to launch an IPO have been put on hold for the time being, the company’s co-founders, Varun and Ghazal Alagh, are committed to the company for the long term and will continue to own 97% of the company.

The promoters of the IPO-bound company Mamaearth own 97% of the company

All you need to know about Mamaearth’s IPO!

In a statement, the owners of Mamaearth said, “As you are aware, pricing and value information will be disclosed as part of our marketing roadshows whenever we begin them. We have no interest in optimizing for short-term valuations because, as was discussed during our discussion, neither our largest investor nor the promoters would sell a single share and will retain over 97% of their ownership in the firm after the IPO.”

The promoters of the IPO-bound company Mamaearth own 97% of the company

Mamaearth submitted its draught red herring prospectus to the market watchdog SEBI in December of the previous year. In addition to an offer to sell up to 46,819,635 shares, the business has proposed a new issue of equity shares with a maximum value of ₹400 crores. Actress Shilpa Shetty Kundra, businessman Rohit Kumar Bansal, Sofina Investments, and actor Kunal Bahl, in addition to Varun and Ghazal itself, will be the selling stockholders in the OFS.

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Honasa is not the only company dealing with IPO uncertainties. Due to the current market conditions, startups like Droom, boAt, Pharmeasy, and Snapdeal decided to postpone their planned initial public offerings. In recent months, the worldwide market’s financial health has declined as a result of a series of events, including layoffs, funding winter, and the collapse of Silicon Valley Bank. Travel technology startup OYO is the only one competing for an IPO this year.

3 74 The promoters of the IPO-bound company Mamaearth own 97% of the company

In January, the Securities and Exchange Board of India requested that OYO amend the draught IPO papers and resubmit them. OYO submitted initial paperwork to Sebi in September 2021 for an IPO worth ₹8,430 crores.

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