New Delhi, Oct 26 (PTI) Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, on Thursday fixed a price band of Rs 308 to Rs 324 per share for its Rs 1,701-crore initial public offering (IPO).
On October 23, Moneycontrol was first to publish the report, saying the Rs 1,700-crore offer by US-based venture capital firm Sequoia Capital-backed Honasa will open for subscription on October 31.
Honasa Consumer, co-founded in 2016 by the husband-wife duo of Varun and Ghazal Alagh, attained the unicorn status when it raised $52 million at a valuation of $1.2 billion in a fundraising round in January 2022 led by top VC firm Sequoia Capital
Co-founded in 2016 by Varun and Ghazal Alagh, Honasa Consumer attained unicorn January 2022. The company had raised $52 million by Global VC firm Sequoia Capital at a valuation of $1.2 billion.
The Derma Co, owned by Honasa Consumer, has announced that its monthly revenue has exceeded Rs 30 crore, paving way for an annual recurring revenue of over Rs 350 crore. The skincare brand s monthly sales have outpaced those of Mamaearth, another brand owned by Honasa. The company plans to raise Rs 400 crore through an initial public offering.