Beauty Garage Ltd has submitted draft red herring prospectus (DRHP) documents to the Securities and Exchange Board of India (SEBI), marking the formal start of its initial public offering process.
The filing signals the company's intent to list on Indian stock exchanges and raise external capital to fund its expansion plans.
According to the filing, the proceeds from the fresh issue will be primarily utilized for capital expenditure related to setting up a new manufacturing facility in Vasai.
The company also intends to use a portion of the raised funds for general corporate purposes, which typically includes working capital requirements and debt repayment.
The move comes as India's IPO market sees continued activity from consumer-facing brands seeking to capitalize on investor appetite for domestic growth stories.
Master Chains N Jewels Ltd recently filed preliminary documents for its own IPO, aiming to raise ₹400 crore, highlighting a broader trend of private companies turning to public markets for growth capital.