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Mamaearth has tepid debut in a year of many strong listings
Mint Mumbai
|November 08, 2023
Despite strong investor demand during its IPO, Honasa Consumer Ltd, the parent company of personal-care brand Mamaearth, made a lacklustre debut on BSE on Tuesday. Shares opened at ₹330, a modest premium of 1.85% to the issue price of ₹324, and closed at ₹337.10, just 4% more than the issue price. This underwhelming performance reflects the mixed fortunes of IPOs in India since last Diwali.
Companies such as Ideaforge Tech, Netweb Technology, Utkarsh Small Finance Bank, Cyient DLM, SBFC Finance, Cello World, and Mankind Pharma, recorded strong listing gains ranging from 20% to 93%. The broader market, as represented by the Nifty 50 index, has also shown resilience, rising by 10.44% since last Diwali. However, not all IPOs have been so fortunate. Yatra Online’s shares fell by 10.2% when they were listed, while Inox Green’s stock shed 7% on debut and Fusion Microfinance’s stock declined 2.3%.
Cette histoire est tirée de l'édition November 08, 2023 de Mint Mumbai.
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