Page 3 - Sofina Ventures News Today

Honasa Consumer Ltd., which owns FMCG brands Mamaearth and The Derma Co., and healthcare tech firm Indegene Ltd. have received markets regulator SEBI's clearance to raise funds through Initial Public Offerings (IPOs). In addition, engineering, procurement and construction (EPC) firm Vishnu Prakash R Punglia Ltd. obtained SEBI's go-ahead to float the initial share sale.

Private equity and venture capital-backed firms Indegene, a pharma player and skincare brand Mamaearth’s parent Honasa Consumer have received approval from Securities and Exchange Board ......

SEBI’s document showed that it issued observation letter to Honasa Consumer on July 28, 2023, almost seven months after it filed its DRHP

Securities and Exchange Board of India (SEBI) has sought clarification from D2C beauty ecommerce startup Mamaearth on its proposed iPO plans. 

The firm has over 1,600 employees, according to the company's LinkedIn page. 

According to a media report, sources have revealed that the IPO has been put on hold owing to weak market conditions

In a statement, Mamaearth CEO and co-founder Varun Alagh said,

Citing weak market conditions as the reason, a report by Reuters revealed that Mamaearth has gone into a “wait and watch” mode and put the IPO on hold

Post the approval as is in line with the regulations we will have 12 months to file RHP and take the company public, which we will do in consultation with our bankers

Honasa Consumer filed its draft papers with Sebi in December last year to raise funds through an initial share-sale.