Honasa Consumer Ltd, the owner of FMCG brands such as Mamaearth and The Derma Co, on Monday allotted 2.36 crore equity shares to 49 anchor investors and raised ₹765.20 crore ahead of the company’s proposed IPO.
The equity shares were allotted at the upper price band of ₹ 324 per share (including premium of ₹ 314 per equity shares) with face value of ₹ 10 per share.
Nearly 28 marquee investors have received shares via anchor book, Honasa Consumer Ltd said in an exchange filing on Monday.
Of these, some of the participating FPIs are Capital Group (through Smallcap World Fund Inc; which was allocated the highest anchor allocation of 8.77%), Fidelity International Ltd, Norges Bank, Abu Dhabi Investment Authority, First Sentier (First State Investments), White Oak, Franklin Templeton, Kotak, DSP, Carmigniac Gestion, Loomis Sayles, Matthews, Pictet and Hornbill, added the company.
“Out of the total allocation of 23,617,228 Equity shares to the Anchor Investors, 7,827,544 Equity shares (i.e. 33.14 % of the total allocation to the Anchor Investors) were allocated to 7 domestic mutual funds through a total of 19 schemes,” said Honasa Consumer Ltd, adding that 6 prominent insurance companies were allocated 11.5% of anchor allocation.
The issue saw demand from across the foreign as well as domestic investors, with FPIs allocated nearly 54.7% of anchor allocation, and remaining to domestic investors.
Domestic investors include prominent MFs such as ICICI Prudential, Aditya Birla Sun Life, Nippon, Axis, Canara Robeco, Invesco and MF of White Oak. They also include Life Insurance companies such as SBI Life Insurance, ICICI Life Insurance, Birla Life Insurance, Max Life Insurance, Bajaj Allianz Life Insurance and Bharti AXA Life Insurance.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited and J.P. Morgan India Private Limited were the book running lead managers to the offer.
Honasa Consumer has fixed a price band of ₹308 to ₹324 per share for its ₹1,701 crore IPO.
The issue will open for public subscription on October 31 and conclude on November 2.
The IPO comprises of a fresh issue of equity shares worth ₹365 crore and an offer-for-sale (OFS) component of 4.12 crore equity shares by promoters, investors, and other selling shareholders.
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Updated: 30 Oct 2023, 09:33 PM IST