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Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO

Mamaearth valuation controversy: Co-founder clarifies

Several social media users have been expressing concerns over the high valuations of the Mamaearth IPO

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.&nbsp;
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. &lsquo;&rsquo;Valuation discovery is a process which will take place over time as we get into deeper conversations with investor community&rsquo;&rsquo;, she went on to say.
Reacting to the valuation numbers being talked about, she categorically denied them, saying &lsquo;&rsquo;Mamaearth has neither quoted nor subscribed to the valuation numbers that are doing the rounds on social media.&rsquo;&rsquo;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.

gazal alagh

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