Home interior startup HomeLane, backed by the former Indian cricket team captain Mahendra Singh Dhoni, is eyeing an IPO by mid-2022. The initial share sale is anticipated to hold a value of around Rs. 1,500 crores, as per sources.
Are you interested in knowing more about HomeLane and its public offer?
Read on then!
About the Anticipated HomeLane IPO
According to sources, HomeLane seeks to sell 25-30% of its stake through the IPO route. This IPO will feature a combination of secondary and primary shares. Regarding this, a few existing investors, such as Accel Partners and Sequoia Capital, will seek partial exits.
Moreover, the company has appointed ICICI Securities, Axis Capital and Bank of America to manage its initial share sale.
Currently, around 70% stake in this Bengaluru-based firm is owned by investors such as:
- Sequoia Capital
- IIFL AMC
- Accel Partners
- Oman India Joint Investment Fund
- Stride Ventures
- Aarin Capital
- K Ganesh-backed Growth Story
- RB Investments
- Baring Private Equity Partners
- JSW Ventures
However, HomeLane CEO declined to comment anything regarding its IPO. Even the queries emailed to Accel Partners remain unanswered.
Founded by Tanuj Choudhry and Srikanth Iyer, HomeLane provides personalised home decor solutions. This firm has served around 20,000 customers through its 34 established spread across 19 Indian cities.
In August 2021, HomeLane partnered with MS Dhoni to make him the brand ambassador and equity partner. He is also the company’s first brand ambassador and the first Indian celebrity to endorse a home decor brand.
Further, in September 2021, HomeLane mopped up Rs. 370 crores through a Series E funding round. This was led by entities like IIFL AMC’s Late Stage Tech Fund, Stride Ventures and Oman India Joint Investment Fund. For this latest round, HomeLane features a valuation of Rs. 3,600 crores.
Interestingly, in the recent past, global investors are keeping a keen eye on Indian interior design startups. As a result, startups such as Livspace, HomeLane, Infurnia, etc. are enlarging their business through investors’ funding.
2021 has been an IPO friendly year, as witnessed by many investors in the country. It is anticipated that 2022 will be alike in terms of stock market debuts. Accordingly, HomeLane IPO is an exciting addition to the list of IPOs this year.
Source – Economic Times
Frequently Asked Questions
- How much capital has HomeLane raised through funding rounds? For the past 7 years, HomeLane has raised around Rs. 765 crores through funding rounds.
- What was HomeLane’s revenue for FY 2020 – 2021? In FY 2020 – 2021, HomeLane posted revenue of Rs. 270 crores.
- What was the valuation of India’s interior design market in 2020? In 2020, India’s interior design market had a valuation of $23 billion. This value is expected to increase and reach around $38 – $40 billion in the coming 7 years.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.