Mamaearth IPO Subscription: Mamaearth's parent Honasa Consumer IPO issue saw just a 12% subscription on Day 1. Out of the 2.89 crore shares, investors have bought 33.3 lakh equity shares on the first day.
The promoters had reserved 75% of the net issue size for qualified institutional buyers, 15% for high networth individuals and the remaining 10% for retail investors. Of this, the qualified institutional buyers subscribed 10%, high networth individuals have subscribed 2% of the reserved portion and retail investors have put in bids for 29% shares of the portion set aside for them.
Also Read: IPO 2023: Mamaearth's parent Honasa Consumer raises Rs 765 crore from 49 anchor investors
The net issue is the offer excluding employees share. Meanwhile, the company's employees who have Rs 1 crore worth shares reserved in the IPO, have bought 1.83 times the allotted quota. The company in an exchange filing had mentioned that employees would receive the shares reserved for them at a discount of Rs 30 per share to the final issue price.
The price band of the offer is set at Rs 308-324 per share. The issue is open for subscription until November 2. A day before the issue opening on October 30, Honasa Consumer raised Rs 765.2 crore from 49 anchor investors. The company in an exchange filing has mentioned that seven domestic mutual funds have applied in the anchor book, through a total of 19 schemes.