Skip to main content

FMCG firm Onest Ltd files IPO papers with Sebi

Onest Ltd IPO with a face value of Rs 10 comprises a fresh issue of Rs 77 crore and an offer for sale of up to 32.5 crore shares

New Delhi: FMCG firm Onest Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The IPO with a face value of Rs 10 comprises a fresh issue of Rs 77 crore and an offer for sale (OFS) of up to 32.5 crore shares by a promoter and other selling shareholders, according to the draft red herring prospectus (DRHP) filed on Friday.

Those selling shares in the OFS are promoter Pawan Kumar Gupta and existing shareholders — Glentrade DMCC, Ramesh Girdharilal Lulla, Rahul Porwal, Pankaj Jain, Piyush Dungarpuria and R Sambhu Kumar.

Proceeds from the fresh issue to the tune of Rs 60 crore will be utilised towards funding working capital requirements of the company and general corporate purposes.

The Mumbai-based Onest Ltd is primarily engaged in the Fast Moving Consumer Goods (FMCG) market with a range of home care and personal care products, food products and household products catering to B2B2C and B2B customers. Also, it is involved in the Non-Fast Moving Consumer Goods (Non-FMCG) sector.

For the fiscal year 2023, the company’s revenue from operations surged 71 per cent to Rs 184.31 crore against Rs 108 crore a year earlier and net profit rose to Rs 8 crore in fiscal 2023 from Rs 2.44 crore in the preceding financial year.

Monarch Networth Capital and Unistone Capital are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

The post FMCG firm Onest Ltd files IPO papers with Sebi appeared first on Retail News | Retail Industry | Business Information & Latest News.



from Retail News | Retail Industry | Business Information & Latest News https://ift.tt/SwtZogs
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...
70 comments
Read more

Sagar Daryani, CEO and Co-founder – Wow! Momo & Saga: From a Kiosk to a Kingdom

Sagar Daryani’s entrepreneurial odyssey from humble beginnings to pioneering success has redefined the landscape of food startups in India. Co-founding Wow! Momo, he has spearheaded the growth of the largest indigenous QSR chain in the country, crafting a remarkable saga of triumph The Genesis: A Visionary Venture Takes Root In 2008, armed with a mere Rs. 30,000 and boundless ambition, Sagar Daryani and Binod Homagai embarked on their entrepreneurial journey while still pursuing their graduation in B.Com Hons from St. Xavier’s College, Kolkata, even before their college results were out. They knew the value for money and boot-strapped to plough back profits and grow their venture. Sagar spearheaded brand expansion, brand creation, and marketing and retail operations. Grew across the city with a strong consumer focus. The early days were hard but keeping track of the money flow was even harder. Believing in the concept of ‘1 rupee saved is 5 rupees earned’, and the lessons they lear...
1 comment
Read more

Homegrown ice cream chain HOCCO to open 250 stores, eyes Rs 400 crore by FY26

Ankit Chona, Founder and Managing Director of HOCCO, delves into the company’s revenue model, growth strategies, and vision for the future… Bengaluru: HOCCO (House of Chonas Collaborative) , the Ahmedabad-based ice cream and quick-service restaurant (QSR) chain, boasts a rich legacy spanning over 70 years, with roots tracing back to pre-independence India. The Chona family has been deeply entrenched in the food industry since 1944, originally operating in undivided Pakistan. Following the Partition, Satish Chona , an engineer with British Overseas Airways Corporation, relocated from Karachi to India. After journeying through multiple cities, he ultimately settled in Ahmedabad, where he established his first QSR outlet in 1953. Three decades later, he expanded into the casual dining segment, launching a restaurant in Baroda while continuing the family’s ice cream manufacturing business. However, in 2017, the company sold its ice cream division to a South Korean firm, shifting its fo...
Post a Comment
Read more