Mamaearth IPO - Litmus Test for Startups and the Street
Mamaearth's parent company Honasa Consumers is finally hitting Dalal Street with a ₹1700 crore IPO. The company will raise ₹365 crore in fresh issue and the rest will be an offer for sale. What's surprising is that the company is seeking a valuation of over ₹10,000 crore - nearly 60% lower than the ₹24,000 crore figure that had gone viral on social media earlier in January. Why so? Why is the company going for a stock market listing now? While it sells products that compete with HUL, why are its financials more similar to Nykaa? Has its topline growth come at the cost of a healthy bottom…
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