Mamaearths parent company Honasa Consumer finally entered the Stock Market
What’s good my IPO-loving peeps!
Mamaearth’s parent company Honasa Consumer finally entered the stock market today with its much-hyped initial public offering on the National Stock Exchange of India.
You know Mamaearth – they sell all those natural beauty products and stuff.
But hold up, it wasn’t exactly a blazing debut. The stock price has basically just been chilling at the same level it opened at.
Talk about starting off with a whimper!
From Spicy Hopes of $3 Billion to Uncertainty at $1.5 Billion Amidst Shaky Market Sentiment
They originally hoped to be valued at a spicy $3 billion but back in December already lowered that to around $1.5 billion.
With the market being kinda bumpy lately, looks like investors are still on the fence about whether Honasa is a hot stock or not.
Revenue soars to $179 Million, Profits Plunge 71%, Make Investors Cautious Amid Muted Debut
The company did rake in a solid $179 million in revenue last year though, so they’re definitely growing at a decent clip.
But profits slid down 71% which is probably worrying some investors.
Let’s see if Honasa can get investors more pumped up and turn up the volume on their stock price.
But for now, it’s been a lukewarm, low-key entrance to the public markets.
Not exactly the wild stock party they probably hoped for.
