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Skincare start-up Mamaearth eyes $3 bn valuation in 2023 IPO: Report

Company, popular in India with its range of 'toxin-free' products last valued at $1.2 bn.

IPO, shares, company, firms, market
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Reuters Mumbai
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 told Reuters.

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.

The company was last valued at $1.2 billion in January this year when it raised fresh funds

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 21 2022 | 3:46 PM IST

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