Mamaearth IPO: Reactions from shareholders, startup ecosystem on its listing

Honasa Consumer, the parent entity of Mamaearth brand, listed on bourses on Tuesday, with a premium of 2% over the issue price. The stock got listed at Rs 330 on NSE as against the IPO price of Rs 324. Meanwhile, on BSE, it debuted at Rs 324.

The IPO closed on Thursday, with it getting bids for 7.61 times the shares on offer.

The final day push came in from qualified institutional buyers (QIBs), who put in bids for 11.5 times the shares reserved for the category. The retail portion was subscribed 1.35 times.


Reactions on listing

The Indian startup ecosystem reacted with much enthusiasm and appreciation to Honasa Consumer’s listing.

Kunal Bahl, cofounder of Snapdeal and Titan Capital, an early investor in Mamaearth, took to X to applaud the founders, Varun Alagh and Ghazal Alagh, on the listing day.

“Inspiring day for founders in ! @VarunAlagh and @GhazalAlagh have started a revolution. #MamaearthIPO #Honasa,” Bahl wrote in his post.

Bahl’s cofounder at Titan Capital, Rohit Bansal also congratulated the Alaghs on the listing.

“Congratulations @VarunAlagh and @GhazalAlagh on @mamaearthindia IPO. You have inspired a whole generation of entrepreneurs to dream big!,” Bansal wrote on X.


Rahul Chowdhri of Stellaris Venture Partners, an investor in Honsasa, also shared his happiness on the occasion of Honasa’s listing.

“Hard to describe how happy one feels on this day ⁦@mamaearthindia⁩ ⁦@Stellaris_VP⁩ ⁦@alokgoyal1971⁩ ⁦@banglani,” Chowdhri wrote.


Congratulating another woman founder on her company’s IPO, Leap.club’s cofounder Ragini Das wrote “ Congratulations Team Honasa! To many more women ringing that IPO bell - this is just the beginning”.


Seeing another D2C brand list on the bourses successfully, D2C electronics startup Atomberg’’s cofounder Arindam Paul, replying to Chowdhri’s post, wrote “Congratulations Rahul to you and the entire Honasa and the Stellaris team. This moment is akin to the “one small step for man, giant leap for mankind” for digital first consumer brands. Rooting for the success.”