Amid the controversy over inflated valuations of Mamaearth IPO, co-founder, Gazal Alagh issues a clarification. Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO.
In response to these concerns, co-founder, Gazal Alagh, in a series of tweets clears the air. Alagh says that there was no mention of valuation in the DRHP, which is the standard practice. ‘’Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community’’, she went on to say.
Reacting to the valuation numbers being talked about, she categorically denied them, saying ‘’Mamaearth has neither quoted nor subscribed to the valuation numbers that are doing the rounds on social media.’’Parent company Hanasa Consumer Ltd, is looking to raise around 2400 crore though the initial public offering.
The IPO will comprise of a fresh issue of shares worth $4 billion and an offer for sale of 46.8 million shares. The company was last valued at $1.2 billion in 2022 when it raised $52 million from investors including Sequoia and Sofina.