Honasa Consumer's Skincare Brand Mamaearth Sees Mixed IPO Performance, Debuts at ₹330 with $1.30 Billion Valuation

Despite strong investor demand and oversubscription, Mamaearth's IPO underperforms expectations with shares briefly falling below initial offer price; the company's listing amid mixed performances of IPOs in Indian market.

• Honasa Consumer Ltd, the parent company of personal-care brand Mamaearth, debuted its shares at ₹330 on the BSE, a slight premium of 1.85% to its issue price of ₹324.
• The company's ₹1,701-crore IPO was oversubscribed 7.61 times over, reflecting strong investor demand.
• Despite the strong influx of investors, Mamaearth's IPO saw an underperformance with shares briefly falling below the initial offer price.
• The skincare company experienced an increase in product demand due to the pandemic, with its growth mirroring the trend of increased consumer consciousness towards cleaner and organic products.
• Honasa also operates multiple other brands like The Derma Co, Aqualogica, and Ayuga, with Mamaearth accounting for about 80% of its revenue in 2023.

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