IPO tracker: Cello World's issue booked 82% on Day 2; Mamaearth's subscribed 4% on first day
Here's a look at the subscription and other details
Mamaearth
The public offer of Honasa Consumer, which operates the Mamaearth brand, was subscribed just 4% so far on the first day of the bidding process. While the retail category was booked 22%, the other two categories are yet to get off the mark.
According to market sources, the company's shares are trading with a marginal premium of Rs 7 in the unlisted market.
The issue is priced in the range of Rs 308-324, and at the upper end, the company is valued at nearly Rs 10,500 crore.
The IPO includes a fresh equity issue of Rs 365 crore and an offer for sale of about 4.12 crore shares.
Under the OFS, founders Varun Alagh and Ghazal Alagh along with investors Kunal Bahl, Shilpa Shetty, Rishabh Mariwala will offload their partial stakes.
Investors can bid for a minimum of 46 shares in one lot and in multiples thereafter. About 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and the remaining 10% for retail investors.
Honasa Consumer has managed to become the largest digital-first beauty and personal care (BPC) company in India in terms of revenue in FY23.
It operates six brands – Mamaearth, The Derma Co, Bblunt, Ayuga, Aqualogica, and Dr Sheth. Mamaearth is the flagship brand, bringing in the highest revenue.
Cello World
After a steady response on Day 1, the IPO of stationery maker Cello World was booked 82% so far on the second day of bidding.
The NII part was subscribed the most at 2.18 times, followed by the retail category at 72% and QIB at just 2%.
The offer is completely an offer for sale worth Rs 1,900 crore.
The company has fixed a price band of Rs 617-648 per share for its offer. Investors can bid for
