Mamaearth, an India-based beauty and baby care brand, is planning an IPO within the next 12 to 15 months, Entrackr reported, citing sources with knowledge of the plan.
The direct-to-consumer company is considering a public listing by mid-2023, sooner than the previous two- to three-year plan, a source added.
In January, Mamaearth’s parent company Honasa Consumer raised US$52 million in a funding round led by Sequoia, reaching unicorn status with a valuation of US$1.2 billion. Other investors in the round included Sofina and Evolvence.
The source said that Sequoia and Sofina will likely back the IPO due to Mamaearth’s strong bottom line.
Mamaearth operates in India, Nepal, Bangladesh, and Sri Lanka. The company plans to use its recent fundraise to test products in the Middle East and South Asia.
See also: The leading Asian tech players eyeing an IPO in 2022 and beyond
Editing by Miguel Cordon
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