18 Oct 2023
The personal care brand received SEBI nod for IPO. It also plans to expand to Thailand, Vietnam, Malaysia, and Bangladesh.
Big plans in the offing for personal care brand Mamaearth that plans to expand to more international markets in Thailand, Vietnam, Malaysia, and Bangladesh through channel partners. It is already present in the UAE, Singapore, Mauritius, Maldives, and Nepal through ecommerce marketplaces, modern trade, and own website.
It's presence in the UAE helps cater to the markets in West Asia and North Africa. Its parent company, Honasa consumer also owns The Derma Co, that crossed ₹350 crores in annual revenue in the quarter ending June 2023.
Mamaearth also received SEBI nod to launch its IPO. It is doing roadshows and meeting investors to weigh interest in its public offering. It was last valued at $1.2 billion after raising $52 million in January 2022. It now plans to issue fresh shares worth ₹400 crores and an Offer For Sale component for 46.82 million shares.