Our firm advised Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited and J.P. Morgan India Private Limited (Book Running Lead Managers), on the initial public offering by Honasa Consumer Limited (Mamaearth).1

Honasa Consumer Limited operates its flagship 'Mamaearth' brand, as well as The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth's brands, under its house of brands. It is the largest digital-first BPC company in India in terms of revenue from operations for the Financial Year 2023. Pursuant to the IPO, equity shares of the Company were listed on the BSE and NSE on November 7, 2023.

Deal amount: USD 204.43 million

INDUSLAW Team:

Vishal Yaduvanshi (Partner), Anshul Roy (Principal Associate), Ayushi Tiwari (Associate), Yajunshi Tyagi (Associate), Aditya Singh (Associate), Khushi Maheshwari (Associate), and Divyanshu Singh (Associate).

Other law firms involved:

    Mamaearth and its promoters: Cyril Amarchand Mangaldas, on matters of Indian law,
  • Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited and J.P. Morgan India Private Limited: Sidley Austin LLP, as international legal counsel,
  • Investor Selling Shareholders: Khaitan & Co., on matters of Indian law.

    • Footnotes

    1 https://economictimes.indiatimes.com/markets/stocks/news/mamaearth-shares-list-at-2-premium-over-ipoprice/articleshow/105027856.cms

    2 https://www.reuters.com/world/india/indian-skincare-firm-mamaearths-ipo-oversubscribed-76-times-2023-11-02/

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E-mail: prachi.bhardwaj@induslaw.com
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