Indian skincare firm Mamaearth's parent puts IPO on hold - sources
has put its initial public offering (IPO) on hold because of weak market conditions, two people with direct knowledge of the matter said, a month after two other Indian companies also scrapped their share sales. Mamaearth parent Honasa Consumer Ltd filed its documents for an IPO in December, planning to raise about $200 million to $300 million, through the issuing of new equity and an offer for sale of some existing shares, which could have valued the company at up to $3 billion. Backed by investors such as Sequoia Capital and Belgium's Sofina (SOF.BR), Mamaearth is now in a "wait and watch mode", the sources said, given the turbulence in stock markets globally amid worries about the financial health of banks. article-prompt-devices Register for free to Reuters and know the full story Founded in 2016 by the husband and wife duo of Varun and Ghazal Alagh, Mamaearth has been betting on India's booming beauty and personal care market, which is estimated to expand to $30...