Mamaearth looks to $3 billion valuation for IPO in 2023
Natural skincare and personal care brand Mamaearth plans to reach a valuation of around $3 billion as it plans to launch an initial public offering in 2023.
Mamaearth is looking to go public and achieve a valuation which is around 10 to 12 times forward earnings based on current sales growth and its future revenue potential, ET Bureau reported. The business is looking to raise over $300 million in the IPO, anonymous sources close to the matter told Reuters. Mamaearth is currently in talks to appoint its bookrunners for its IPO and is considering JP Morgan Chase, JM Financial, and Kotak Mahindra Capital for the role, according to the sources.
Mamaearth is planning to expand offline across India which will be vital to establishing itself as a household name. This year, the business aims to reach 40,000 retail outlets in 100 Indian cities. At present, around 70% of Mamaearth’s sales come from online and the business aims to expand the ratio of offline sales through this expansion.
Mamaearth is known for its ‘toxin-free’ products and eco-friendly image. The brand retails a wide selection of haircare goods, face washes, moisturisers, and body care goods among others. The brand was founded by husband and wife duo Varun and Ghazal Alagh and has been running since 2016. Mamaearth’s parent company is Honasa Consumer Private Limited.
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