Mamaearth IPO allotment status: Check application, latest GMP and listing date of Honasa Consumer

Honasa Consumer, parent company of Mamaearth, is likely to finalize the allotment status of its shares on Friday, that is, November 3 or may be over the weekend. The primary stake sale offers of beauty and personal care (BPC) players saw a mixed response during the three-day bidding process, mostly driven by institutional bidders.

Honasa Consumer sold its IPO in the fixed price band of Rs 308-324 per share with a lot size of 46 shares. The issue was open for bidding between October 31 to November 02. Mamaearth's parent firm raised a total of Rs 1,701 crore from its primary offering, 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 overall subscribed 7.61 times. The portion for qualified institutional bidders (QIBs) was booked the highest at 11.50 times, while the portion set aside for non-institutional investors saw 4.02 times bidding. The allocation reserved for retail investors and employees was subscribed 1.35 times and 4.88 times during the three-day bidding process.

Grey market premium (GMP) of Honasa Consumer has doubled after the decent bidding by the QIB investors. Last heard, Mamaearth was commanding a premium of Rs 18-20 apiece in the unofficial market, suggesting a listing pop of around 5-6 per cent for the investors. The premium in the unofficial market stood around Rs 9-10 on the first day of the bidding process.

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

Brokerage firms had a mixed view on the IPO of Honasa Consumer. Some analysts were positive on the issue on the back of expansion of the BPC segment and its reach across the online and offline channels. However, others suggested to 'avoid' the issue citing the aggressive pricing, loss-making nature of the business, high portion of OFS and weak financials.

Citigroup Global Markets, Kotak Mahindra Capital, JM Financial 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 make debut on Tuesday, November 7, on both BSE and NSE

Investors, who bid 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. The applicant needs to type-in the application number and add the PAN card number before clicking on 'I am not a Robot' and finally the submit button.

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.

 

Also read: Suzlon Energy shares a 'Buy', revised stock price target at Rs 37, says JM Financial

 

Also read: Kotak Mahindra Bank, Balrampur Chini & JSW Steel: What Kiran Jani of Jainam Broking says on these 3 stocks