D2C Skincare And Beauty Brand Mamaearth Eyes $3 Bn Valuation In 2023 IPO
Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company’s plans mention.
Mamaearth is targetting a valuation of around $3 billion – 10-12 times forward earnings based on sales growth and future revenue potential, the report stated. It plans to file draft regulatory papers by the end of 2022.
The skincare startup is in early-stage discussions to raise nearly $300 million through its initial share sale, with the number pegged at $350 million.
Founded in 2016, Mamaearth has become popular in India with its range of “toxin-free” products such as face washes, shampoos and hair oils. It competes with Unilever’s India unit, Hindustan Unilever, and Procter & Gamble Co in the booming personal care industry.
(With inputs from REUTERS)
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