Ghazal Alagh and Varun Alagh's company, Mamaearth, made its IPO debut recently. Here's how Shilpa Shetty Kundra earned Rs. 45 crores from it.
Shilpa Shetty Kundra is a well-known face in the entertainment world. Married to businessman, Raj Kundra, she is a loving mommy to their two kids, Viaan and Samisha. Shilpa, who was once one of the most sought-after actresses in Bollywood, has apparently stopped doing a lot of projects. For the unversed, she was last seen in the film, Sukhee, which tanked at the box office. However, still Shilpa has been riding high on her professional front, courtesy of her business ventures.
For the unversed, Shilpa Shetty is one of the earliest investors in the company, Mamaearth. It so happened that Honasa Consumer's IPO was held on October 31, 2023, but even before it, the company managed to raise Rs. 765 crores from anchor investors. Later, on November 7, 2023, the shares of Honasa Consumer Ltd., which owns FMCG brands like Mamaearth and The Derma Co, made their debut, listing with a gain of nearly 2% on the National Stock Exchange against the issue price of Rs. 324.
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To mark the joyous occasion, Shilpa Shetty Kundra took to X and expressed her happiness. She dropped a video featuring some glimpses from the event. Dressed in a black blazer and blue denim, the actress beamed with happiness as she rang a huge bell. Shilpa was accompanied by Mamaearth's founders, Ghazal Alagh and Varun Alagh, in the video. While Ghazal looked pretty in a green saree, Varun opted for a blue-hued pantsuit. Sharing the video, Shilpa wrote:
"Dreams do come true... with FAITH. From bootstrap to unicorn to now becoming an IPO... what a journey it's been for Mamaearth."
To watch the video, click here.
According to a report in Bloomberg, Honasa Consumer allotted shares worth Rs. 2.36 crores at Rs. 324 apiece to 49 anchor investors. Meanwhile, Shilpa Shetty sold her shares worth Rs. 13.93 lakhs in the offer-for-sale portion of the IPO and earned around Rs. 45.14 crores from it. Well, not just this, the actress still owns shares of around Rs. 2.30 lakhs in the company.
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Ghazal Alagh and her husband, Varun Alagh, started their company, Mamaearth, on October 31, 2016. The brand emerged as one of the most trusted and reputed baby products manufacturers in India. From skincare to beauty care, Mamaearth has made a name for its brand in the beauty care industry. For the unversed, Varun Alagh is the Chairman of Honasa Consumer Limited, which is the parent company of Mamaearth.
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