Shares Approval Sought by Menhood for INR 42 Crore Fundraising through Preferential Allotment
In the bustling city of Jaipur, Menhood, a D2C personal care brand that specializes in men's grooming and personal care products, was founded in 2020. Since then, the company has made significant strides, listing within five years of its inception and raising INR 19.5 Cr via its SME IPO last year.
Now, Menhood, which is also the parent company of NSE Emerge-listed firm Macobs Technologies, is seeking shareholders' approval for a preferential issue. The proposed issue is on a preferential basis to promoters and persons belonging to promoter and non-promoter groups. Notably, co-founder and Chief Business Officer (CBO) Divya Gandotra will invest INR 8.16 Cr, while investment firms Pinnacle Investments and Capital Vision will invest INR 8.5 Cr.
The details regarding the exact amount Menhood aims to raise in this preferential issue or the plans for utilizing the funds remain undisclosed. However, it is known that Menhood's operating revenue zoomed 35% to INR 239.41 Cr in FY25 from INR 178.05 Cr in FY24. In the same fiscal year, the company reported a net profit of INR 2.61 Cr, an increase from INR 2.15 Cr in the previous fiscal year.
Shareholders are invited to an extraordinary general meeting (EGM) on September 1 to discuss and approve this proposed preferential issue. Since listing in July 2021, Menhood's shares have seen a significant growth, with a 71% increase from their listing price of INR 92.
For the most accurate and up-to-date information, it is recommended to consult official announcements from Menhood or financial news sources covering investment rounds for the brand.
- Menhood, the parent company of Macobs Technologies, is planning to invest funds raised from a preferential issue for undisclosed purposes, as they aim to grow their operating revenue further, with Divya Gandotra, co-founder and Chief Business Officer, investing INR 8.16 Cr in this round.
- In the financial sector, investment firms Pinnacle Investments and Capital Vision will also contribute INR 8.5 Cr in this preferential issue, demonstrating the business potential of Menhood, following their impressive financial growth over the past year.
