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Mamaearth is targetting a valuation of around $3 billion - 10-12 times forward earnings based on sales growth and future revenue potential, a person briefed on the discussions said. It plans to file draft regulatory papers by the end of this year, said sources, who declined to be named as the plan is private.

“The valuations have now come within 5% of historical average levels of 17 years. There would be some more correction if retail were to give out. There is a risk that retail investors will start shunning equity markets and if that leads to some selling, foreigners investors could start smoothening that fall as they are already significantly underweight India.”

Despite the continued pressure posed by higher raw material prices (Yarn) on Apparel retailers, gross/EBITDA margin saw a YoY improvement in Q4 as companies raised prices by 5-10% across categories to pass on the increase in input cost.

Global crude oil prices continue to remain high. With Europe imposing a further ban on Russian supplies, crude oil prices may continue to remain elevated in the near term. A surge in other global commodity prices has also impacted domestic food prices with food inflation for May coming in at 7.8 per cent.

As of 31-Mar-2022, promoters held 51.09 per cent stake in the company, while FIIs held 12.06 per cent and domestic institutional investors had 3.58 per cent.

The initial share sale comprises a fresh issue of equity shares aggregating up to Rs 450 crore, with a face value of Rs 5 each and an offer-for-sale (OFS) of up to 11,210,659 equity shares by existing shareholders.

Bitcoin fell below $20,000 on June 18 for the first time since December 2020. It has plummeted around 60% this year. The overall crypto market has slumped to around $900 billion, down from a record $3 trillion in November.

A total of 13,561 shares changed hands on the counter till 01:34PM (IST).

"The (palm oil) contract is having a bear run on the back of renewed China lockdowns, which could lead to lower demand, as well as Indonesia ramping up exports to clear overflow of palm oil reserves," a Kuala Lumpur-based trader told Reuters.

The stock quoted a 52-week high price of Rs 724.5 and low of Rs 430.0.