Honasa Consumer IPO
Honasa Consumer Limited (HONASA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 07 November 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +1.6% (likely range -6% to +16%), day's high +8.0%, chance of a gain 82%. Actual: +1.9% at the open, +5.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,57,44,820 | 18,11,35,028 | 11.5x | |
| NII (HNI) total | 78,72,409 | 3,16,71,506 | 4.02x | |
| Big NII (above ₹10 lakh) | 52,48,272 | 2,54,76,594 | 4.85x | |
| Small NII (₹2-10 lakh) | 26,24,137 | 61,94,912 | 2.36x | |
| Retail | 52,48,272 | 70,66,796 | 1.35x | |
| Employees | 34,013 | 1,65,876 | 4.88x | |
| Total | 2,88,99,514 | 22,00,39,206 | 7.61x |
Bids on NSE and BSE together, as published by NSE, as of 02 Nov 2023, 07:00 PM. Shares offered exclude the anchor portion. 3% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Honasa Consumer's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Laurus LabsDec 2016 | 10.5x | 3.58x | 1.67x | 4.57x | ₹1,334 Cr | +14.5% | +16.4% |
| Aether IndustriesMay 2022 | 17.6x | 2.52x | 1.14x | 6.26x | ₹865 Cr | +9.7% | +20.6% |
| Sai Silks (Kalamandir)Sep 2023 | 12.3x | 2.47x | 0.88x | 4.40x | ₹1,210 Cr | +4.0% | +11.3% |
| Metro BrandsDec 2021 | 8.49x | 3.02x | 1.13x | 3.64x | ₹1,368 Cr | -12.6% | +1.6% |
| Sandhar TechnologiesMar 2018 | 14.5x | 6.39x | 1.42x | 6.19x | ₹515 Cr | +4.2% | +6.0% |
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company, Citigroup Global Markets India | 83 | +20.8% | 76% |
| JM Financial | 109 | +22.8% | 75% |
| J.P. Morgan India | 27 | +17.4% | 74% |
Offer documents (NSE)
Frequently asked
What is the Honasa Consumer IPO price band and lot size? ₹308–324 per share, with a lot of 46 shares, so the smallest retail bid is ₹14,904.
How many times has it been subscribed? 7.61x overall: QIB 11.5x, NII 4.02x, retail 1.35x, employees 4.88x.
How did it list? It opened at ₹330, +1.9% against the issue price of ₹324, and closed its first day +4.0%.
