Mamaearth IPO allotment announced! Check Honasa Consumer's status, latest GMP & listing date

Honasa Consumer, the parent company of Mamaearth, has finalised the basis of allotment of its shares. The company is set to make its debut at Dalal Street on Tuesday, November 7. The IPO by beauty and personal care (BPC) player had sailed through, mostly led by institutional bidders.

The Honasa Consumer IPO, which ran from October 31 to November 02, was sold in the price range of Rs 308-324 apiece with a lot size of 46 shares. The IPO raised a total Rs 1,701 crore, which included a fresh issue of Rs 365 crore and an offer-for-sale (OFS) of up to 4.12 crore equity shares.

The issue was subscribed 7.61 times during the three-day bidding process. The portion for qualified institutional bidders (QIBs) was booked at 11.50 times. The portion set aside for non-institutional investors saw 4.02 times bidding. The quotas reserved for retail investors and employees were subscribed 1.35 times and 4.88 times, respectively.

Grey market premium (GMP) of Honasa Consumer improved following the QIB interest. Last heard, Mamaearth was commanding a premium of Rs 30-32 apiece in the unofficial market, suggesting a likely 10 per cent listing pop.

Honasa Consumer is focused on the beauty and personal care business. Its product range includes face care, baby care, hair care, body care, color cosmetics and fragrances segments. Honasa also has a professional salon chain named 'BBlunt Salons' to supplement its product portfolio.

Brokerage firms had mixed views on the IPO. Some analysts suggested to 'Subscribe' to the issue citing the expansion of the BPC segment and its reach across the online and offline channels. Others suggested to give it a skip amid aggressive pricing, loss-making nature of the business, high portion of OFS and weak financials.

JM Financial, Citigroup Global Markets, Kotak Mahindra Capital, and JP Morgan were lead managers for the issue, while Kfin Technologies was appointed as the registrar for the IPO. Shares of Honasa Consumer are set to get listed on both BSE and NSE on Tuesday.

Investors, who bade for the issue of Honasa Consumer, can check the allotment status on the BSE website's IPO application check page. Check-in equity, under the issue type and select Honasan World Limited in the dropbox. One needs to type-in the application number and add the PAN card number before checking-in 'I am not a Robot' and hit the submit button at the end.

Allotment status can also be checked through the online portal of Kfin Technologies, the registrar to the issue. Visit the web portal of KFin Tech and select the IPO of Honasa Consumer in the dropbox. One may be required to select either Application number, demat account number, or PAN ID. Enter the details of the mode selected in the previous tab and fill the captcha accurately and hit submit.


Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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