Mamaearth IPO on hold amid unflashy market conditions
At a time when the Nifty is trading 10% below its peak and most recent debutants below their issue prices, skincare incipiency Mamaearth has put its initial public immolation (IPO) on hold, according to a report moment. Backed by investors similar as Sequoia Capital and Belgium’s Sofina, Mamaearth is now in a” stay and watch mode”, a Reuters report said, citing turbulence in stock requests encyclopedically amid worries about the fiscal health of banks.
Mamaearth parent Honasa Consumer had filed IPO papers in December to raise about $200 million to $300 million, through the issuing of new equity and an offer for the trade of some being shares. While reports said Mamaearth is planning to seek a valuation of over to $3 billion, the unicorn’s co-founder Ghazal Alagh had before issued a denial saying they don’t subscribe to the valuation figures which are getting mentioned in the media.
” In our DRHP as is the standard practice there’s no citation of valuation. Valuation discovery is a process which will take place over time as we get into deeper exchanges with the investor community,” Alagh had said before. Mamaearth was last valued at $1.2 billion in January 2022. The company has until December to admit blessing for the IPO from the Securities and Exchange Board of India (SEBI) and train its final prospectus. It still plans to list, but with a detention, the report said. It may rethink request conditions and start its marketing process by October if the sentiment improves, it said.
Mamaearth CEO Varun Alagh said the company’s largest investor, Sequoia, would not be dealing any shares in the IPO and the authors would enjoy further than 97% of their shares after the IPO. Last month, Indian vesture retailer Fabindia, backed by billionaire Azim Premji’s fund, and jewelry retailer Joyallukkas scrapped their IPOs due to poor request conditions. Sentiments have been subdued in the primary request in the last many months. request data shows that out of the last 10 IPOs listed on stock exchanges, utmost of them are still trading below their issue prices. Investors have also been unkind to stocks with precious valuations and those with a poor bottom-line.
About Mamaearth
We are parents just like you. Our journey began when we, Ghazal and Varun, were expecting our first child. That’s the time we turned from a bungee jumping, pub hopping, carefree couple to basically a couple of safety wardens. Everything had to be safe, kosher & googled. When the morning sickness became a routine, we were shocked to find that there were no safer alternatives to pills and ended up having to struggle a lot.
After 9 rigorous months, we were finally blessed with our tiny little bundle of joy and just like you and every other parent in the world; we too wanted the best for our cute bambino. So we wore our spyglasses & did all the possible research available. Whoa, we were shocked to see how most baby products, be it lotion or shampoo contained toxins which have proven to be harmful to the little ones.
We were worried sick and it wasn’t just our baby we were worried about but also for all the little ones we knew in our friend circle. That’s when we decided to do something about it & create products which were completely safe & certified toxin free. A brand, by a parent, for the parent. A brand which develops products from world-class research and attempts to solve every little problem that we as parents face. With the aim of making products which are mum-baby friendly, toxin-free, meet stringent international standards & are basically ultra awesome, MamaEarth was born. -Now is that not a story worth sharing ?
What We Want To Achieve?
We aim to build a brand which is your friend, every parent’s friend. A friend who understands you, knows your issues and tries hard to resolve them, well most of them. A brand which every parent like you and me can trust, a brand which intends to make lives of mums & expectant mums better and beautiful. A brand which welcomes all our babies to a healthy and a safe world. We aspire to take care of every parents & baby’s well-being from head to toe with safe, toxin-free, international standard products which you can choose without having to think twice. Well, it’s a lot like love, Awwww.
What Are We Doing Every Day To Achieve It?
Safety– Asia’s 1st Brand with MADE SAFE™ Certified Products (Oh Yeah!!). We make sure, our products go through all the required tests and meet the safety standards that you as parent expect. We have a stringent set of super safe standards which you can read about in detail here. If it is unsafe, it is not meant for our baby’s world and it’s not from mamaearth.
Mum Empowerment – Nobody understands a baby, like a mom does, even if that is just with her intuition. We are continuously working with a panel of moms, who give genuine reviews of our products, which we further use on its improvisation & for creating new solutions. All the products are by the moms, for the moms, and through the moms. Would you like to review our products? Please get in touch
Honesty – We realize how important it is for a parent to know what they are feeding/ using on their baby. At mamaearth, products evolve with an honest and transparent system. What we wished as a parent for ourselves and our little one is what we promise to deliver. You can read about every ingredient that we add to our products and why in our ingredients section under products.
Best Of Earth -We believe in delivering products which are gentle as well as hardworking. In this attempt, we make sure we use the best available ingredients (natural, plant-based or manmade) which are both certified safe as well as efficacious in getting the job done. We buy them from the best sources around the world which are ISO, GMP & Non-GMO compliant. A Baby’s well-being & health is our top priority.