The initial public offering of Honasa Consumer, parent company of beauty and personal care brand Mamaearth, was subscribed 0.13 times, or 13%, on the first day of subscription.
The demand for the Rs1,701 crore-IPO was led by the portion reserved for employees, which was subscribed 1.98 times, followed by demand from retail individual investors, subscribing 0.34 times, or 34%. The portion of qualified institutional buyers was subscribed 0.10 times, or 10%, and that of non-institutional investors was subscribed 0.03 times, or 3%.
According to a company filing, seven domestic mutual funds including Aditya Birla Sun Life, Nippon, Axis and Invesco, among others, were allocated 33% of the anchor issue worth Rs 253.6 crore.
