Beauty Garage (BGL), an Indian premium and salon-grade haircare company, has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO).
IPO Structure and Fund Utilization
The proposed IPO comprises two main components: a fresh issue of equity shares aggregating up to ₹125 crore, and an Offer-for-Sale (OFS) of up to 7,836,000 equity shares. The OFS will see promoter selling shareholders Jigar Babubhai Ravaria and Mahesh Babubhai Ravaria divest a portion of their holdings.
Beauty Garage intends to allocate the net proceeds from the fresh issue primarily towards establishing a new manufacturing facility in Vasai, Mumbai. The remaining funds will be utilized for general corporate purposes, supporting the company's ongoing operations and growth initiatives.
Company Profile and Market Reach
BGL specializes in advanced hair treatment and maintenance solutions, catering to luxury and premium salons, beauty professionals, and retail consumers across India. The company boasts a significant pan-India presence, reaching over 13,044 salons across 272 cities through its robust distribution network.
As an integrated brand, Beauty Garage operates with in-house capabilities spanning research and development, manufacturing, product design, packaging, and marketing. Its diversified product portfolio includes shampoos, conditioners, styling products, scalp care solutions, and various hair treatment products, designed for both in-salon procedures and consumer aftercare.
Currently, BGL offers 133 distinct products, with an average selling price (ASP) of approximately ₹2,951 per stock-keeping unit (SKU).
Key Advisors
Systematix Corporate Services has been appointed as the sole Book Running Lead Manager for the IPO. Bigshare Services will serve as the registrar to the offer, overseeing the IPO application and allotment process.
This filing marks a significant step for Beauty Garage as it prepares to list on the stock exchanges, aiming to bolster its manufacturing capabilities and expand its market footprint.