Mamaearth's parent Honasa Consumer, healthcare tech firm Indegene get Sebi's nod to float IPOs

economictimes.indiatimes.com:

Honasa Consumer and Indegene filed their preliminary IPO papers with Sebi in December 2022, while that of Vishnu Prakash R Punglia was filed in April 2023. The three companies obtained Sebi's observations letter during July 25-28, an update with the regulator showed on Thursday.

In Sebi's parlance, its observations mean it's go-ahead to launch the public issue such as IPO and FPO (Follow-on-Public Offer). Going by the draft papers, Honasa Consumer's proposed IPO comprises a fresh issue of equity shares worth up to Rs 400 crore and an Offer For Sale (OFS) of up to 4,68,19,635 shares by promoters and existing shareholders.

Those selling shareholders in the OFS would include promoters and co-founders — Varun Alagh and Ghazal Alagh — Bollywood actor Shilpa Shetty Kundra, Rohit Kumar Bansal, Sofina Ventures and Kunal Bahl. The IPO of Indegene consists of a fresh issue of equity shares worth up to Rs 950 crore and OFS of up to 3.63 crore equity shares by existing investors, according to the Draft Red Herring Prospectus (DRHP).

The OFS consists of up to 27 lakh equity shares to be sold by individual selling shareholders — Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair — and up to 3.36 crore equity shares by existing investors, including Carlyle, Brighton Park Capital and the Nadathur Family Office. According to merchant banking sources, the healthcare tech firm focused on the global life sciences industry is expected to mobilise Rs 3,200 crore through the initial share sale.