What the business is
Sells men's grooming and lifestyle products — trimmers, intimate perfumes, intimate wash and moisturiser — under the Menhood brand.
The bet
That a sub-scale D2C grooming brand can fund its next phase from public-market money on the SME exchange rather than another private round.
Starting capital
IPO: fresh issue of 25,95,200 equity shares at INR 71-75, expected to raise about INR 19.5 Cr at the upper end
How it started
Founded in 2019 in Jaipur by Dushyant Gandotra, with the support of Divya Gandotra and Shivam Bhateja; parent entity Macobs Technologies Limited.
What happened
Macobs filed its draft red herring prospectus in January 2024 and on 12 July set a price band of INR 71-75, with bids in lots of 1,600 shares; SKI Capital Services is lead book runner.
What has to be true
India's SME IPO market surged — FY24 issues hit INR 5,996.84 Cr — giving small consumer brands a funding lane outside venture capital.
A fresh-issue IPO of about INR 19.5 Cr funds product expansion and operations without negotiating another private round.
Management framed going public as a commitment signal: 'to grow and continuously innovate in the grooming industry,' per CEO Gandotra.
What can be applied
India's SME boards gave small consumer brands a public-market route venture capital didn't: a INR 19.5 Cr listing is small money, but it is money.
Aftermath
As of the 12 July announcement, bidding was set for 16-19 July 2024 in lots of 1,600 shares, with SKI Capital Services as lead book runner and proceeds earmarked for product expansion and operational capabilities.
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