Shilpa Shetty set to earn ₹15.65 crore as Mamaearth IPO hits market

livemint.com:

Mamaearth IPO: Price band of the initial public offering of Mamaearth parent Honasa Consumer has been declared at ₹308 to ₹324 per equity share. Whether investors would make money out of this public issue or not, will be known after listing of share only. The public issue is set to hit primary market on 31st October 2023.

Alongwith other promoters of the upcoming IPO, Bollywwod diva Shilpa Shetty Kundra is all set to earn around ₹15.65 crore from this public issue worth ₹365 crore. So, irrespective of the kind of listing Mamaearth IPO gets, B-town actress Shilpa Shetty would be laughing all the way to her bank with an income of near ₹15.65 crore. As per the Draft Red Herring Propspectus (DRHP) of Mamaearth IPO, Shilpa Shetty Kundra name appears among the promoters, who have offered to offload their shareholding in Mamaearth parent Honasa Consumer Limited.

As per the details available in DRHP, actress Shilpa Shetty has offered 5,54,700 company shares to offload in this upcoming IPO, which she had bought at ₹41.86 per equity share. So, her net investment in these shares offered for sale is ₹2,32,19,742 or around ₹2.32 crore. Multibagger IPO: SME stock doubles allottees' money within one month of listing As Mamaearth IPO price band has been fixed at ₹308 to ₹324 per equity share and it has been found most of the times that shares are allotted at the upper price band to the applicants.

This means, Shilpa Shetty's shares will be sold out at ₹324 per share levels. Hence, money getting generated after offloading of Shils Shetty's 5,54,700 shares would be ₹17,97,22,800. Blue Jet IPO: Check GMP, subscription status on day 2, apply or not? So, Shilpa Shetty would earn around ₹15.65 crore ( ₹17,97,22,800 - ₹2,32,19,742) from this