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share of Honasa Consumer , the parent firm of lineal - to - client mantrap and personal care Mamaearth , skip slightly in a cardinal public listing watched by many Indian startup as they appraise their own initial public oblation .
Mamaearth , a seven - year - old company that has seen a upsurge in the requirement of its product after the pandemic , end the debut trading 24-hour interval Tuesday at 337.50 Indian rupee ( $ 4 ) per part , above its 324 Native American rupees ( $ 3.89 ) listing cost on the local rally . The house currently has a market hood of $ 1.3 billion .
“ It is just over five years since the Mamaearth seed unit of ammunition was announced . And the company is listing today . That is incredible speed of growth ( and clock time to heel for a consumer products / brand party ) ! ” pronounce Sajith Pai , a partner at Indian venture capital firm Blume . “ When the round was announced the company was at about 15 crore runrate ; post money was just under 100 crores ( < 7x rev to valuation multiple ) . Today rev up = ₹ 1.5k crore and list Mary Leontyne Price valuation = ! 7x still ! Interesting — you would expect germ multiple to be higher than IPO multiple . ”
The firm , plant by husband - married woman entrepreneur Varun Alagh and Ghazal Alagh , operate a portfolio of six discrete brands . Its eponymous primary firebrand , Mamaearth , describe for approximately 80 % of its taxation in the fiscal year 2023 . Honasa also operates The Derma Co , Aqualogica , and Ayuga , alongside those acquired , namely BBlunt and Dr Sheth ’s .
Mamaearth ’s business operation hinge on third - party manufacturing , with the company holding no cook up IP of its own . Its products reach consumers via an omni - channel meshwork , with on-line sales , including unmediated - to - consumer and vitamin E - commerce , delivering 59 % of total gross across nearly 18,600 pin code . Offline channel , conduce 36 % of sale , span over 154,000 retail points , incorporating a admixture of traditional and modern swop outlets , exclusive stores , and BBlunt beauty salon .
In the financial twelvemonth 2023 , Mamaearth reported taxation of approximately $ 170 million , with the online channel yielding around 56 % of this figure . The companionship maintain a gross border of 70 % , alongside an adjusted Earnings Before Interest Taxes Depreciation and Amortization margin of 3 % . Offline sales event now represent 36 % of the total revenue , mark an gain for the fiscal period .
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About a dozen other Indian startup are keenly monitor market conditions as they assess the timing for their initial public offerings . Mamaearth sooner try a evaluation of $ 3 billion at its public debut , but afterwards cut unforesightful the target as market conditions worsened .
