Ravelcare's Bold Move: Beauty Brand Launches IPO

Ravelcare, a digital-first beauty brand, is set to launch a Rs 24.10 crore IPO on Monday. The IPO aims to fund marketing, new manufacturing, and corporate purposes. Based in Mumbai, Ravelcare offers haircare, skincare, and bodycare products through digital channels and e-commerce, targeting both domestic and international markets.

Mumbai-based beauty and personal care brand, Ravelcare, has announced the launch of its initial public offering (IPO), opening for public subscription next Monday. The IPO, valued at Rs 24.10 crore, will remain open until December 3, with bidding for anchor investors scheduled for November 28.

The company has set a price band of Rs 123-130 per equity share and intends to offer up to 18.54 lakh equity shares. Proceeds from the offering will be utilized for marketing and advertisement, aimed at boosting brand visibility, and establishing a new manufacturing facility at Mauje-Peth in Amravati.

Incorporated in 2018, Ravelcare operates on a digital-first, direct-to-consumer model, distributing products via e-commerce platforms. The company's market presence extends to India as well as select international locations like the UAE, Australia, and North America. Shares are to be listed on the BSE SME, with Marwadi Chandarana Intermediaries Brokers Pvt Ltd as the lead manager.

(With inputs from agencies.)