Honasa Consumer shares climb 4 pc in debut trade
New Delhi, Nov 7 (PTI) Shares of Honasa Consumer Ltd, which owns new-age FMCG brands like Mamaearth and The Derma Co, ended with 4 per cent gains in debut trade on Tuesday against the issue price of Rs 324.
The stock began the trade at Rs 330, up 1.85 per cent on the NSE. During the day, it hit a high of Rs 340.45 and a low of Rs 321.10. Shares of the firm finally ended at Rs 337.10, a gain of 4 per cent.
The company's stock listed at par with the issue price of Rs 324 on the BSE. Shares of the company ended at Rs 337.15, a gain of 4 per cent.
The company commanded a market valuation of Rs 10,847.69 crore.
In volume terms, 8.22 lakh shares of the company were traded at the BSE and over 3 crore shares at the NSE during the day.
The Initial Public Offer (IPO) of Honasa Consumer was subscribed 7.61 times on the last day of subscription on Thursday.
The Rs 1,701.44 crore IPO had a price range of Rs 308-324 a share. The Gurugram-based beauty and personal care company was founded in 2016 by husband-wife duo Varun and Ghazal Alagh.
It began with the launch of Mamaearth and over the years added five more brands to its portfolio, including The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth's, and built a 'House of Brands' architecture. PTI SUM SUM MR
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