Mamaearth IPO: Founders Ghazal and Varun Alagh pen heartfelt notes on their entrepreneurial journey
Ghazal Alagh, who describes herself as Chief Mama, said October 31 was wrapped in nervous energy and anticipation.
- Oct 31, 2023,
- Updated Nov 1, 2023 9:35 AM IST
Direct-to-consumer beauty brand Mamaearth's co-founder Ghazal Alagh wrote a heartfelt post on social media about the start-up and its journey so far as Honasa Consumer's initial public offering (IPO) was launched for subscription on Tuesday. Ghazal Alagh, who describes herself as Chief Mama, said the day was wrapped in nervous energy and anticipation.
The public issue of Honasa Consumer, which is the parent company that owns Mamaearth along with a clutch of other brands like The Derma Co, Bblunt, Ayuga, Aqualogica and Dr Sheth, will close for subscription on November 2. It may get listed on exchanges on November 10.
Calling October 31 a special day, Ghazal said the Tuesday morning heralded a "lot of excitement, nervousness, mixed feelings and emotions". She thanked her well-wishers and supporters for their encouragement.
Recalling the last one year and Mamaearth's journey, Ghazal said that "a lot has been said in this last 8 months about her and her husband, Varun Alagh, about their business.
"A lot has been said in this last 8 months about us as founders and our business. Let me be honest, it hurts. We do read all of your comments. You might not believe in us today, but one day you will, our business model will win you over 💪. Varun Alagh and I have built Honasa Consumer Ltd. with a lot of love and governance. Always thinking about how can we leave a legacy through our brands built for India 🇮🇳 . Focusing the most on our consumer love and a business model which is replicable across all our brands, we have built not just one but 6 consumer loved brands in just 6 years. And we are proud of what we have achieved. But we don’t sit on our past laurels, our focus is on the future growth and success of this company," she wrote on LinkedIn.
Talking about Mamaearth's future plans, Ghazal further wrote: "We are on a mission to build a pure play BPC company out of India, which crafts brands for India 🇮🇳 and takes them to the world 🌎. While the IPO is just another milestone in the life of our company, our commitment and focus is to our larger goals."
Quoting Robert Frost's famous lines, Ghazal ended her posts with: "The woods are lovely, dark and deep, But I have promises to keep, And miles to go before I sleep, And miles to go before I sleep."
Her partner and husband, Varun, too wrote on LinkedIn describing the journey over the "last 2500+ days and nights of building" the brand.
"Last 48 hours have been full of amazing messages from friends and well-wishers. Ghazal Alagh and I are full of gratitude to each one of you 🙏🏻. Many people ask me what is that one moment, which defined your success, I find it very difficult to answer. The journey of the last 2500+ days and nights of building has been full of such everyday moments, choosing one is just so hard. I think the day we realized this fact that it’s not going to be about that one moment but about thousands of micro moments that we need to get right, would have to be that moment," he wrote on LinkedIn,
Talking about Mamaearth's journey so far, Varun wrote: "The joy of building is just pure elation, it’s so much better than moaning, critiquing, regretting and most importantly inaction. This is a momentous occasion for us but in the journey of building it’s just another moment, we shall cherish it but move on to looking for more amazing moments as we build for decades to come. While we are here, thanks a ton everyone."
Honansa Consumer IPO: Day 1
As per update, the Honasa Consumer IPO subscription day 1 saw a dull response from the investors during the first few hours of the bidding process.
Gurugram-based Honansa Consumer is selling its shares in the price band of Rs 308-324 apiece with a lot size of 46 equity shares and its multiples thereafter. The beauty and personal brand is aiming to raise Rs 1,701 crore via IPO route, which consists of a fresh issue size of Rs 365 crore and offer-for-sale (OFS) of up to 4.12 crore equity shares by its promoters and other selling shareholders.
Ahead of the launch, the company raised Rs 765 crore from anchor investors. The Gurugram-based company allocated 2,36,17,228 shares to 49 anchor investors to raise the amount.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial and JP Morgan India are book-running lead managers for the issue and Kfin Technologies is the registrar for the IPO. Shares of the company will be listed on both BSE and NSE.
Also read: Mamaearth IPO: Honasa Consumer off to a slow start, issue booked 11% on Day 1 so far
Direct-to-consumer beauty brand Mamaearth's co-founder Ghazal Alagh wrote a heartfelt post on social media about the start-up and its journey so far as Honasa Consumer's initial public offering (IPO) was launched for subscription on Tuesday. Ghazal Alagh, who describes herself as Chief Mama, said the day was wrapped in nervous energy and anticipation.
The public issue of Honasa Consumer, which is the parent company that owns Mamaearth along with a clutch of other brands like The Derma Co, Bblunt, Ayuga, Aqualogica and Dr Sheth, will close for subscription on November 2. It may get listed on exchanges on November 10.
Calling October 31 a special day, Ghazal said the Tuesday morning heralded a "lot of excitement, nervousness, mixed feelings and emotions". She thanked her well-wishers and supporters for their encouragement.
Recalling the last one year and Mamaearth's journey, Ghazal said that "a lot has been said in this last 8 months about her and her husband, Varun Alagh, about their business.
"A lot has been said in this last 8 months about us as founders and our business. Let me be honest, it hurts. We do read all of your comments. You might not believe in us today, but one day you will, our business model will win you over 💪. Varun Alagh and I have built Honasa Consumer Ltd. with a lot of love and governance. Always thinking about how can we leave a legacy through our brands built for India 🇮🇳 . Focusing the most on our consumer love and a business model which is replicable across all our brands, we have built not just one but 6 consumer loved brands in just 6 years. And we are proud of what we have achieved. But we don’t sit on our past laurels, our focus is on the future growth and success of this company," she wrote on LinkedIn.
Talking about Mamaearth's future plans, Ghazal further wrote: "We are on a mission to build a pure play BPC company out of India, which crafts brands for India 🇮🇳 and takes them to the world 🌎. While the IPO is just another milestone in the life of our company, our commitment and focus is to our larger goals."
Quoting Robert Frost's famous lines, Ghazal ended her posts with: "The woods are lovely, dark and deep, But I have promises to keep, And miles to go before I sleep, And miles to go before I sleep."
Her partner and husband, Varun, too wrote on LinkedIn describing the journey over the "last 2500+ days and nights of building" the brand.
"Last 48 hours have been full of amazing messages from friends and well-wishers. Ghazal Alagh and I are full of gratitude to each one of you 🙏🏻. Many people ask me what is that one moment, which defined your success, I find it very difficult to answer. The journey of the last 2500+ days and nights of building has been full of such everyday moments, choosing one is just so hard. I think the day we realized this fact that it’s not going to be about that one moment but about thousands of micro moments that we need to get right, would have to be that moment," he wrote on LinkedIn,
Talking about Mamaearth's journey so far, Varun wrote: "The joy of building is just pure elation, it’s so much better than moaning, critiquing, regretting and most importantly inaction. This is a momentous occasion for us but in the journey of building it’s just another moment, we shall cherish it but move on to looking for more amazing moments as we build for decades to come. While we are here, thanks a ton everyone."
Honansa Consumer IPO: Day 1
As per update, the Honasa Consumer IPO subscription day 1 saw a dull response from the investors during the first few hours of the bidding process.
Gurugram-based Honansa Consumer is selling its shares in the price band of Rs 308-324 apiece with a lot size of 46 equity shares and its multiples thereafter. The beauty and personal brand is aiming to raise Rs 1,701 crore via IPO route, which consists of a fresh issue size of Rs 365 crore and offer-for-sale (OFS) of up to 4.12 crore equity shares by its promoters and other selling shareholders.
Ahead of the launch, the company raised Rs 765 crore from anchor investors. The Gurugram-based company allocated 2,36,17,228 shares to 49 anchor investors to raise the amount.
Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial and JP Morgan India are book-running lead managers for the issue and Kfin Technologies is the registrar for the IPO. Shares of the company will be listed on both BSE and NSE.
Also read: Mamaearth IPO: Honasa Consumer off to a slow start, issue booked 11% on Day 1 so far