Former Shark Ashneer Grover extended his support to Mamaearth’s Ghazal Alagh at the IPO of the skincare company held on November 2. Grover congratulated Ghazal and Varun Alagh for getting their IPO oversubscribed and shutting down naysayers and Twitter IPO pundits. The Third Unicorn founder further mentioned that he even applied for the IPO quietly and handsomely. Grover took a jibe at critics
Twitter pe diss karne se paise nahi bante – IPO subscribe karne se fir bhi ban sakte hai”
Congrats @mamaearthindia @VarunAlagh @GhazalAlagh for IPO getting over-subscribed 8X !! And for proving all twitter IPO pundits / valuation experts wrong and shutting them up in style. Kudos !
Disclaimer – I applied in IPO quietly and handsomely – twitter pe diss karne se paise… pic.twitter.com/l4QfXrFw4K
— Ashneer Grover (@Ashneer_Grover) November 2, 2023
Fellow former shark and a euphoric Ghazal Alagh posted a picture on X, remarking ‘ready for the market’ in the caption. Responding to a user’s assumption that the former shark is overconfident about the IPO, she responded:
“Not overconfidence, sir; it’s just confidence in my business.”
Ready for you markets. We at @honasa_india will win you over 💪🏻 pic.twitter.com/uzZ3T8ZEZz
— Ghazal Alagh (@GhazalAlagh) November 2, 2023
Not overconfidence sir, it’s just confidence on my business.
— Ghazal Alagh (@GhazalAlagh) November 2, 2023
Meanwhile, the initial public offering of the skincare brand is now 7.6 times oversubscribed, with bids worth USD 856.75 million, or Rs 71.3 billion, as per exchange data accessed on Thursday. The company was founded in 2016 by Ghazal Alagh and her husband, Varun Alagh, a former Hindustan Unilever executive. The company is registered as Honasa Consumer. The price band set by the company per share is between 308 and 324 rupees. The company saw a net profit of Rs 259.6 million for the April-June quarter, with a 93% jump in revenue.
Indian skincare firm Mamaearth’s IPO oversubscribed 7.6 times https://t.co/qnCBDxWQui pic.twitter.com/FRFXOWHAl7
— Reuters (@Reuters) November 2, 2023
Reactions to both Ashneer Grover and Ghazal Alagh’s posts on X/Twitter. Most users slammed (read mocked) Ghazal Alagh and expressed their skepticism about the Mamaearth IPO. Users on the Doglapan author’s post said that the common man now understands the game of valuation. Another user cited Paytm, Zomato, and Nykaa’s fate and suggested, ‘maybe calm down?’
meanwhile the small investors who applied for IPO .. pic.twitter.com/nDz4GA1Pma
— Mukesh (@mikejava85) November 2, 2023
Sach sach batana aap iss valuation pe invest karte !!! Feel sad for poor retailers.
— Sutanu D. (@iamsutanudas) November 2, 2023
Earlier #Nykaa was my favourite for Intraday shorts
Now onwards will short @honasa_india
We find opportunity in everything 😎
Let’s see who wins
— Kush Thakkar (@kushthakkar183) November 2, 2023
pic.twitter.com/5JUb4VtQeq
— Mad king (@GJhamtani) November 2, 2023
Radheshyam Tiwari bol rahe hai –“Listing ke din agar lower circuit nahi laga toh muchwa mundwa lunga” pic.twitter.com/Ay7Gov4HCB
— Kushal Deotale (@kddeotale) November 2, 2023
Congratulations, another Paytm is in process ! Will meet and talk on listing day 😆
— Ayush (@Ayush05710627) November 2, 2023
Hope no Kotak employee was abused behind the scenes for this application 🥲
— Azhar Jafri (@zhr_jafri) November 3, 2023
Nowadays these Rich CEOs have no jobs to do.
Somehow they have got a lot of money but instead using this money to help new Startups or building some new technology, these people just want to grow their Money by hook or Crook.
Some CEO are promoting fake Apps.
— HousePerSqft.com (@housepersqft) November 2, 2023
We have all seen the fate of Paytm, Zomato, Nykaa, so maybe calm down?
People want to profit from listing gains.
For a steady rise, the company will need a steady increase in investors not just one time.
You know this game better. At least use that knowledge.
— Fiisible | Money & Markets (@fiisible) November 2, 2023
Retail has subscribed only 1.25 times. I believe this is one of the lowest in this IPO season.
Janta ko valuation ka game samjh aa rha h.
— Abhay Yadav (@abhayyadav0507) November 2, 2023
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Source:https://in.mashable.com/tech/63170/ex-shark-ashneer-grover-applies-for-mamaearth-ipo-netizens-remind-him-of-paytm-and-zomatos-fate