Since its listing on Tuesday, November 7, the stock has been on a downward spiral and currently trading at a discount of 4.6% from the initial public offering (IPO) issue price of Rs 324.
The stock was listed at a premium of 2% on the NSE at Rs 330 and the high for this stock has been Rs 340.45 on the intraday basis.
The price action was accompanied with volume action as nealy 16 lakh shares changed hands on the NSE around 11:50 am.
Despite high valuations and mixed views from analysts, the public offer was subscribed 7.6 times at close, led by strong interest from institutional investors.
Analysts said most issues with high valuations in the recent past have struggled to deliver post listing. The company is valued at Rs 10,425 crore in the post-issue market cap.
Honasa Consumer, a beauty and personal care brand (BPC), has a product portfolio in the baby care, face care, body care, hair care, colour cosmetics and fragrances segment.It operates six brands – Mamaearth, The Derma Co, Bblunt, Ayuga, Aqualogica and Dr Sheth. Mamaearth is the flagship brand, bringing in the highest revenue.
The company had posted a loss of Rs 151 crore in FY23 against a profit of Rs 14.4 crore a year earlier. The Delhi-based startup reported a 58% jump in its revenues to Rs 1,493 crore in the same period.
In the recent June quarter, its revenue from operations rose 49% year-on-year to Rs 464 crore. Net profit was at Rs 9.24 crore as against a loss of Rs 2.51 crore a year ago.
(You can now subscribe to our ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Top Trending Stocks: Sensex Today Live, SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price