Mumbai: Honasa Consumer Limited announced its Rs 1,701 crore IPO with price band of Rs 308 to Rs 324 per share, opening on October 31 and closing on November 2.
The IPO comprised of Fresh Issue of Equity shares aggregating to Rs 365 crore and “Offer-for-Sale” for 4.12 crore Equity shares.
VarunAlagh, Chairman and CEO, Honasa Consumer Limited, noted that product innovation powered by continuous consumer engagement remained the key strength of the company’s ‘Beauty and Personal Care’ business.
“Innovation is our core strategy and this capital efficiency business model is working well for us as we understand Gen Z and Millennials very well including who they follow for advice. We have inhouse studios generating 2,000 pieces per month, and have created 3,000 influencers, besides product details in different languages,” he said.
“We plant trees from our customers’ contributions and share visuals of these with them. Our focus is on expanding distributors and brand awareness, besides looking at incubating or acquiring new engines of growth alongside strengthening business efficiency drivers.”
He said the number of repeat customers has grown from 35% to 60% and the focus is on building a Rs 1,000 crore brand through strong repeats franchise. Ghazal Alagh, Whole Time Director and Chief Innovation Officer, said that the company drew 80% of its business offline as channel of choice through its presence in 17 cities and continuous expansion of its stores, besides outsourcing its last mile logistics.
