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BusinessWire India
Mumbai (Maharashtra)/ New Delhi [India], November 23: Cyril Amarchand Mangaldas acted as legal counsel for Honasa Consumer Limited (Honasa) and the promoters, namely, Varun Alagh and Ghazal Alagh on its INR 1701 crore Initial Public Offering (IPO). Honasa Consumer Limited is India's largest digital-first BPC company in terms of revenue from operations (for the Financial Year 2023). It houses a portfolio of six brands, namely, Mamaearth, The Derma Co., Aqualogica, Ayuga, BBlunt and Dr. Sheth's. The Capital Markets and General Corporate advisory team of Cyril Amarchand Mangaldas was led The transaction team representing the Company was led by Yash Ashar, Partner & Head Capital Markets, Vijay Parthasarathi, Partner& Regional Co-head Markets Practice (Southern Region; Aashima Johur, Partner; with support from Saurav Das, Senior Associate; Vedansh Batwara, Associate; Prajna Kariappa, Associate; and Harshita Tripathi, Associate. The transaction team representing the Promoters was led by Yash Ashar, Partner & Head Capital Markets, Rohit Tiwari, Partner with support from S. Bindu Sravya, Associate. Bharath Reddy, Partner, Sharada Ramachandra, Partner, Ritika Rathi, Partner, Dipti Khatri, Senior Associate and Simran Jain, Associate also advised on certain aspects of the transactions such as employee stock option schemes and FDI analysis. The Honasa's IPO included equity shares having face value of INR 10 each, comprising of a fresh issue and offer for sale, aggregating to INR 1701.4 crore. The equity shares of Honasa commenced trading on Stock Exchanges on November 7, 2023, within 3 working days from the date of closure of the Offer. Other advisors to the transaction included Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, JM Financial Limited and J.P. Morgan India Private Limited (acted as book running lead managers to the Offer); Sidley Austin LLP (acted as International legal counsel for book running lead managers); and S.R. Batliboi & Associates LLP (acted as auditor). The agreement was signed on 15th June 2023; and closed on 7th November 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by BusinessWire India. ANI will not be responsible in any way for the content of the same)
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