IPO Details
Issue Date
--
Investment/lot
--
Price Range
--
Lot Size
--
IPO Size
N/A
Schedule of Onest Limited IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Onest Ltd IPO
The IPO of Onest Ltd is a 100% book-built offer comprising a fresh issue and an offer for sale. While the fresh issue size aggregates up to ₹77 crore, the offer for sale consists of up to 3,250,000 equity shares.
Objectives of Onest Ltd IPO
The company plans to utilise the net proceeds for:
- Funding the incremental working capital requirements of the company
- General corporate purposes
Onest Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Aggregates up to ₹77 crore |
Offer for Sale | Upto 3,250,000 equity shares |
EPS in ₹ for FY 23 | 3.20 |
Onest Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not less than 75% of the offer |
Non-institutional Bidders | Not more than 15% of the offer |
Retail Individual Bidders | Not more than 10% of the offer |
Industry Outlook
The Indian household care and personal care market has witnessed rapid growth in the past few decades. The growth can be attributed to increase in E-commerce adoption, increase in customisation and last mile access to consumers in tier-2 and tier 3 cities. The market is expected to grow at a CAGR of 7.8% between 2024 and 2028.
Company Information
Onest Ltd is primarily engaged in the fast-moving consumer goods (FMCG) market with a range of home care and personal care products, food products and household products catering to B2B2C and B2B customers. The company also serves the Non-Fast Moving Consumer Goods (‘Non-FMCG’) market with a range of industrial products, catering to B2B customers.
Strengths of Onest Ltd IPO
Value brand, cost effective as compared to market competitors
Since inception, Onest Ltd has placed reliance on quality control of its products. It has remained cost effective as compared to its competitors. The cost efficiency of its products has contributed to the growth of its business by enabling it to penetrate the international market and expand its geographical footprint.
Diversified business segments with a wide range of products and consistent focus on quality
Since incorporation, the company has developed a diversified product portfolio under various segments such as home care and personal care, food, household under the FMCG vertical and industrial and other products under the non-FMCG vertical.
International customer presence across geographies
The company has a vast international presence with customers across geographies. As of March 31, 2023, its products were exported to more than 57 countries. Some of the regions where it exports its products include USA, UK, UAE, Africa, Commonwealth of Independent States (CIS) and Latin America.
Risks of Onest Ltd IPO
-
The company depends entirely on third-party manufacturers for all its products. If these organisations are unable or unwilling to manufacture its products, or if these organisations fail to maintain requisite licenses and approvals or otherwise fail to meet its requirements, its business will be subject to risks, which, if realised, could adversely affect its business, results of operations, cash flows and financial condition.
-
The company derives a substantial portion of its revenue from the sale of products in its home care and personal care segment. Any loss of business in this segment may adversely affect its business, results of operations, financial conditions and cash flows.
-
The company engages in foreign currency transactions, which expose it to adverse fluctuations in foreign exchange rates. Fluctuations in the exchange rate between the Rupee and other currencies may adversely affect its operating results.
Onest Ltd Financials
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
There are no listed entities whose business portfolio is comparable with that of Onest Ltd and comparable to its scale of operations.
Anchor Investor Bidding Date
TBA
IPO Registrar and Book Running Lead Managers
Link Intime India Private Ltd is the registrar of Onest Ltd IPO. The book running lead managers are:
- Monarch Networth Capital Ltd
- Unistone Capital Private Ltd
Business Model
Onest Ltd focuses on the following two broad verticals: Fast Moving Consumer Goods (FMCG) and Non Fast Moving Consumer Goods. The FMCG vertical is further divided into three segments:
- Home Care and Personal Care
- Food Products
- Household and Other Products
The non-FMCG vertical includes industrial and other products.
Company Growth Trajectory
Onest Ltd has demonstrated consistent growth in profitability. Its revenue from operations increased at a CAGR of 69.55% from ₹64.13 crore in FY 21 to ₹184.306 crore in FY 23. Its EBITDA has increased at a CAGR of 135.55% from ₹1.921 crore in FY 21 to ₹10.657 crore in FY 23.
Market Position
Onest Ltd is an emerging player to build a value brand in the home care and personal care industry. It has exported to over 57 countries as of March 31, 2023 and has recently entered the domestic market with its wide range of products through its subsidiary, Onest EasyLife LLP.
Onest Ltd Profit and Loss
| Parameter | FY 23 | FY 22 | FY 21 |
|---|---|---|---|
Total Income (in ₹ crore) | 186.525 | 108.989 | 65.426 |
Profit Before Tax (in ₹ crore) | 10.982 | 3.419 | 2.064 |
EBITDA (in ₹ crore) | 10.657 | 3.661 | 1.921 |
EPS in ₹ | 3.20 | 1.06 | 1.84 |
Onest Ltd Cash Flow Statement
| Parameter | FY 23 | FY 22 | FY 21 |
|---|---|---|---|
Profit Before Tax (in ₹ crore) | 10.982 | 3.419 | 2.064 |
Net Cash Used in Operating Activities (in ₹ crore) | (9.553) | (8.314) | 3.115 |
Net Cash from /(used) in)/Generated from Investing Activities (in ₹ crore) | (4.907) | 1.159 | (2.616) |
Net Cash Generated / (Used in) Financing Activities (in ₹ crore) | 19.852 | 8.017 | 0.4 |
Cash and Cash Equivalents at the End of the Year (in ₹ crore) | 7.759 | 2.368 | 1.506 |
How to Check Allotment Status of Onest Ltd IPO?
You can check the allotment status of this IPO through the BSE website or through its registrar portal. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt
- Select the Issue Name from the drop-down.
- Enter your application number or PAN number
- Check the box that says “I’m not a Robot” and click on “Search” to know the allotment status
To check status on the website of Link Intime India Private Ltd:
- Visit the website of Link Intime India Private Ltd
- Choose ‘Public Issues’ from Investor Services dropdown -Choose the name of the company from ‘Select Company’ dropdown
- Enter any of these - PAN Number, Application Number, DP/Client ID, Account Number / IFSC
- Click on Submit to check the status
How To Apply for Onest Ltd IPO?
To apply for Onest Ltd IPO:
- Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
Onest Limited IPO FAQs
What is the Onest Ltd IPO?
The Onest Ltd IPO comprises a fresh issue and an offer for sale. The fresh issue aggregates up to ₹77 crore, the offer for sale is up to 3,250,000 equity shares.
What are the Bidding Dates for Onest Ltd IPO?
The bidding dates for Onest Ltd IPO are yet to be announced.
From where can I read more about Onest Ltd and its IPO?
You can read more about Onest Ltd and its IPO from the company’s red draft herring prospectus (DRHP) here: (SEBI | Onest Ltd DRHP)
