Mamearth’s parent firm, Honasa Consumer Ltd, is set to launch its initial public offering (IPO) on October 31. The issue will close on November 2 for the public. The price band for the issue is yet to be announced. The anchor book of the offer will be opened for a day on October 30. 

The basis of allotment of the equity shares will be finalised by November 7, and the shares will be credited to the demat accounts by November 9. The equity shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on November 10, as per the T+6 timeline.

The Rs 1,700 crore IPO comprises a fresh issue of shares worth Rs 365 crore and an offer-for-sale (OFS) of 4.12 crore equity shares by founders Ghazal Alagh and Varun Alagh, and investors, including Fireside Ventures Fund, Sofina, Stellaris, Kunal Bahl, Rohit Kumar Bansal, Rishabh Harsh Mariwala and Bollywood actor Shilpa Shetty Kundra.

Promoters hold a 37.41% stake in the company, while the investors hold the remaining shares, including Fireside Ventures Fund, PXV VI, Stellaris, Sofina, and Sequoia Capital.

The company plans to utilise the net proceeds of the fresh issue to the extent of Rs 182 crore for advertisement expenses, Rs 20.6 crore to set up new exclusive brand outlets and invest Rs 26 crore in its subsidiary, Bhabani Blunt Hairdressing (BBlunt) for setting up new salons. The remaining funds will be utilised for general corporate purposes and inorganic acquisition.

The book-running lead managers to the issue are Kotak Mahindra Capital Company, Citigroup Global Markets India, JM Financial, and JP Morgan India. At the same time, KFin Technologies is the registrar to the offer.