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Honasa Consumer, a company selling personal care and beauty products under the MamaEarth brand, has entered the market this November. Honasa Consumer shares have opened flat in the market. Now the shares of Honasa Consumer are roaring and have risen wildly. Shares of Honasa Consumer rose 20% on Thursday to Rs. 422.50. Shares of the company hit a new 52-week high on Thursday.
The company’s profits almost doubled
MamaEarth’s parent company, Honasa Consumer, in the September quarter of the current financial year, posted Rs. 29 crore net profit has been made. Compared to the same period last year, the company’s profit has increased by 93 percent. Honasa Consumer in September quarter last year had Rs. 15 crore profit was made. At the same time, the company’s consolidated revenue in the September quarter of the current financial year rose 21 percent to Rs. 496 crore, compared to Rs. 410 crores.
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Shares of the company in IPO Rs. 324 were purchased
Honasa Consumer shares have a price band of Rs. 308-324 was. Shares of the company in IPO Rs. 324 were allotted. Shares of the company on November 7 were only Rs. 324 was listed in the market. Following the strong September quarter results, the company’s stock on November 23 was Rs. 422.50 was reached. Honasa Consumer’s IPO was subscribed a total of 7.61 times. Retail investors subscribed 1.35 times the quota in the company’s IPO. At the same time, the quota of non-institutional investors was subscribed 4.02 times. While Qualified Institutional Buyers (QIB) quota was subscribed 11.50 times. The company’s IPO was subscribed 4.88 times the quota of employees.
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