✒️Anil Beadag(mumbai repoter)
Mumbai(dt.29oct):-Honasa Consumer Limited (‘HCL’ or the ‘Company’), proposes to open an initial public issue of equity shares of face value of ₹10 each (‘Equity Shares’) on Tuesday, October 31, 2023.
With cost efficiencies assured, the company has achieved a gross profit margin of 17.03% in Q1FY24. With business model efficiency and operating leverage setting the company is at the peak of increasing profitability.
The total offer comprises fresh issue of up to Rs 365 crore and offer for sale (OFS) of up to 41,248,162 equity shares by shareholders (‘Total Offer Size’). Those offering shares in the OFS include promoters and founders – Varun Alagh and Ghazal Alagh – and investors like Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actress Shilpa Shetty Kundra. This offer will close on Thursday, November 2, 2023.
The price band of the offer has been fixed at ₹308 to ₹324 per equity share. Bids can be made for a minimum of 46 equity shares and in multiples of 46 equity shares thereafter. A discount of Rs 30 per equity share is being offered to eligible employees bidding under employee reservation.
