Honasa Consumer, Parent of Mamaearth, Sees Share Price Hit Fresh All-Time Low, Down 15.24%
Honasa Consumer, the parent company of Mamaearth, experiences a significant decline as its share price drops over 15% to a new all-time low. Despite an IPO price of ₹324, the stock is now down by 21%, raising concerns among investors.
Mamaearth's parent company, Honasa Consumer, witnessed a further decline in share price, dropping over 15% to reach a new all-time low on the BSE. Opening at ₹291.50, down from the previous close of ₹302.15, the stock hit ₹256.10, marking a 15.24% decline. As of 9:45 am, it traded at ₹264.75, down 12.38%.
Compared to its IPO price of ₹324, Honasa Consumer's share price has now fallen by 21%, hitting this new low after its listing on November 7. The IPO, open from October 31 to November 2, had a price band of ₹308-324, raising a total of ₹1,701 crore, including a fresh issue of ₹365 crore and an offer-for-sale of up to 4.12 crore equity shares.
The IPO, subscribed 7.61 times, saw retail investors subscribing 1.35 times, NII portion 4.02 times, QIB portion 11.50 times, and the employee portion 4.87 times. The company raised ₹765.20 crore from anchor investors on October 30, with seven mutual funds investing ₹253 crore.
Honasa Consumer, the parent of Mamaearth, The Derma Co., Aqualogica, and Ayuga, has strengthened its portfolio through strategic acquisitions, including BBlunt (Products and services) and Dr Sheth's (dermatologist-formulated skincare brand). Please note that the views and recommendations are not endorsed by Mint, and investors are advised to consult certified experts before making investment decisions.
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