Mamaearth parent files papers for IPO, co-founders to dilute stake

Honasa Consumer was valued at $1.2 bn in January, making it the first unicorn of 2022

Honasa Consumer, the parent firm of beauty brand Mamaearth, has filed papers with the market regulator to raise funds through an initial public offering (IPO).

The IPO will be a combination of a fresh issue of Rs 400 crore and an offer-for-sale (OFS) of 46.8 million shares. Investors, including co-founders, Varun Alagh and Ghazal Alagh Sofina Ventures SA, Evolvence, Fireside Ventures, Stellaris Venture Partners, Snapdeal founder Kunal Bahl, actor Shilpa Shetty Kundra, Rishabh Harsh Mariwala and Rohit Kumar Bansal will dilute their holdings.

Honasa Consumer was valued at $1.2 billion in January, making it the first unicorn of 2022. The company raised $52 million in a funding round led by Sequoia.