Mamaearth's parent Honasa Consumer IPO listing date today. What GMP, experts signal?
Honasa Consumer IPO: Listing date of Mamaearth's parent Honasa Consumer Limited on Indian exchanges has been fixed on 7th November 2023 i.e. today.
As per the BSE notice, "....effective from Tuesday, November 7, 2023, the equity shares of Honasa Consumer Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities." The BSE notice went on to add that Mamaearth IPO will list on BSE and NSE in special pre-open session on Tuesday. Honasa Consumer shares will list at Indian exchanges at around 9:45 AM whereas it will become available for trade at 10:00 AM on Tuesday.
According to stock market experts, Mamaearth parent Honasa Consumer IPO may have a flat listing. They said that the way public issue received strong response by investors during second half of the last date of subscription, it signals 'motivated investment' and hence there can be sharp fall in the scrip after listing.
Experts went on to add that Honasa Consumer IPO listing price would be in ₹314 to ₹344 range. Speaking on Honasa Consumer IPO listing, Prashanth Tapse, Research Analyst — Sr VP Research at Mehta Equites said, "Despite aggressive pricing and high ask valuations beauty and personal care (BPC) player Mamaearth, sailed through the tough waves in the market, led by qualified institutional bidders (QIB) who has supported the story with 11.5 times while quota reserved for retail investors remained cautious." Mehta Equities expert went on to add that even though subscription data saw better than street estimation, market view has now turned neutral from cautious outlook despite the risk of investing in a loss-making nature of the business, high portion of OFS, high competition with margin pressure, low promoter
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