Menhood's IPO comprises a fresh issue of 25,95,200 equity shares of face value of INR 10 each
The D2C startup said that it has set a price band of INR 71-75 for its IPO; it is expected to raise INR 19.5 Cr at the upper end of the price band
Founded in 2019, Menhood's male grooming and lifestyle products include trimmers, intimate perfumes, intimate wash and moisturiser, among others
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Amid the surge in IPO activities among the new-age tech startups, Jaipur-based D2C men’s grooming brand Menhood is all set to go public with an NSE Emerge listing.
Menhood’s parent entity Macobs Technologies Limited filed its draft red herring prospectus (DRHP) in January this year. Its offering comprises a fresh issue of 25,95,200 equity shares of face value of INR 10 each.
In an announcement on Friday (July 12), the D2C startup said that it has set a price band of INR 71-75 for its IPO. Menhood is expected to raise INR 19.5 Cr at the upper end of the price band.
The company’s IPO is opening on July 16 and will end on July 19. Investors can place bids for 1,600 equity shares and in their multiples thereafter.
Menhood plans to use the net proceeds from the IPO to expand its product offerings and enhance its operational capabilities to support ongoing growth and innovation within the grooming industry.
Founded in 2019 by Dushyant Gandotra, with the support of Divya Gandotra and Shivam Bhateja, Menhood has products in the male grooming and lifestyle segment. Its products include trimmers, intimate perfumes, intimate wash and moisturiser, among others.
The startup competes with the D2C brands such as Bombay Shaving Company, Beardo, and more.
Speaking on its upcoming IPO, the CEO of Macobs Technologies, Gantotra, said, “Our decision to go public reflects our commitment to grow and continuously innovate in the grooming industry. We are poised to enhance our reach and deepen our market engagement.”
SKI Capital Services Limited is the lead book runner for the IPO.
It is pertinent to note that with its public listing, Menhood will become the third new-age startup to go for an NSE Emerge listing this year after TAC Infosec and Trust Fintech. Meanwhile, it is the seventh startup going for an IPO this year considering the mainboard listings of TBO Tek, Go Digit, Awfis, and ixigo.
Over the past two years, SME IPOs have witnessed a significant surge in India. In FY23, the total number of SME issues amounted to INR 2,234.92 Cr, rising 128% year-on-year, as per Prime Database. In FY24, it further jumped to INR 5,996.84 Cr.
In the current fiscal year, there are already 56 SME issues amounting to INR 1,632.54 Cr.
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