IPO 2023: Mamaearth's parent Honasa Consumer raises Rs 765 crore from 49 anchor investors

Mamaearth IPO: Beauty and personal care company Honasa Consumer has raised Rs 765.2 crore from 49 anchor investors on October 30, day before the issue opening. An anchor investor is an institutional buyer who purchases a significant number of shares in a company at a fixed price before its initial public offering.

Fund Raising

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.

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Meanwhile, investors such as Smallcap World Fund Inc, Fidelity Funds, Abu Dhabi Investment Authority, Government Pension Fund Global, Caisee De Depot ET Placement, FSSA India Suncontinent Fund, Carmignac Portfolio, Goldman Sachs, Fundpartner Solutions, and Hornbill Orchid India Fund invested in the company via anchor book.

Along with this, mutual fund houses like ICICI Prudential Mutual Fund, Aditya Birla Sun Life Trustee, Nippon Life India, Axis Mutual Fund, Whiteoak Capital MF, Invesco, Kotak Funds, and Franklin Templeton Investment Funds also participated in the book.

The company in an exchange filing has also mentioned that it has finalised allocation of 2,36,17,228 equity shares to anchor investors at Rs 324 per share.

Insurance majors in India have also invested in the Varun Alagh and his wife Ghazal Alagh promoted company. The companies include, SBI Life Insurance Company, Aditya Birla Sun Life Insurance Company, ICICI Prudential Life Insurance Company, Max Life Insurance Company, Bajaj Allianz Life Insurance Company, and Bharti Axa Life Insurance Company.

Mamaearth IPO

Honasa Consumer's IPO has hit the markets today. The IPO will remain open till November 2. The company has fixed Mamaearth IPO price at ₹308 to ₹324 per equity share. The book build issue is proposed for listing on BSE and NSE.