NEW DELHI: Direct-to-consumer (D2C) skincare brand Mamaearth, which posted a Rs 151 crore loss in FY23, is set to launch its initial public offering (IPO) on October 31.Honasa Consumer Pvt Ltd, the parent company of Mamaearth and other D2C brands such as The Derma Co and Aqualogica, is expected to raise Rs 10,500 crore in the IPO, it was reported.

The company will do a pre-IPO placement on October 30, with the public offering closing on November 2.

Mamaearth intends to issue new shares for Rs 365 crore, coupled with an offer for sale of 41.25 million shares, according to the company’s red herring prospectus filed with SEBI. The new proceeds are under the Rs 400 crore suggested in the company’s DRHP submitted in December last year, the report mentioned.