Yesterday, November 2, 2023, was the final day of Mamaearth-parent Honasa Consumer's IPO. The digital-first D2C sailed through with the price band fixed at Rs 308-324 per share.

With this, Mamaearth has become the first digital-first D2C company to take the public route. It is also the first unicorn company to do so it the last 18 months. From 2020 to 2022, Honasa saw its revenues double every yea and in 2022 it also became profitable. Compared to other established beauty and personal care brands, it also stands out because of how "aggressively" it has been launching new products or SKUs. This year, it's already shown a 25 crore rupees profit. If we go by these metrics alone, things looked quite promising for Mamaearth.

But its public issue was oversubscribed by 7.61X on the last day. And this was only because of the huge demand from qualified institutional buyers (QIBs).

Retail buyers seemed quite uninterested in Mamaearth's IPO. Why?

Tune in to find out.

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