Beauty Garage, a Mumbai-based haircare solutions provider, has filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise fresh capital of up to ₹125 crore. According to the Draft Red Herring Prospectus (DRHP) filed on July 28, the company is planning an offer-for-sale (OFS) of 78.36 lakh shares, alongside a potential pre-IPO placement of ₹25 crore. The company may also consider issuing shares worth ₹25 crore in a pre-IPO placement, which will form part of the fresh issue, with the fresh issue size being reduced accordingly if such placement is undertaken.
The company plans to utilize ₹91.1 crore of the net fresh issue proceeds to establish a new manufacturing facility in Vasai, Maharashtra, while the remaining funds will be used for general corporate purposes. Currently, Beauty Garage operates a manufacturing facility in Andheri, Mumbai. The expansion aims to strengthen the company's capacity to capitalize on the growth potential of the haircare market.
The homegrown company operates in the premium, salon-grade haircare segment, offering advanced hair treatment and maintenance solutions through a network of more than 13,044 salons. Its haircare brands K9, Botoliss, Shea, and Scalp Sense contributed 40 percent, 23 percent, 26 percent, and 4 percent respectively to revenue from operations in the financial year ended March 2026. Promoters Jigar Babubhai Ravaria and Mahesh Babubhai Ravaria will each sell 39.18 lakh shares through the OFS.
As of the draft papers' date, Beauty Garage offers 133 products across categories including shampoos, conditioners, styling products, scalp care solutions and hair treatment products, with an average selling price of ₹2,950.98 per SKU. The company has established a pan-India presence across 272 cities, serving more than 13,044 salons through its distribution network. The company operates with an integrated business model covering in-house research and development, manufacturing, designing, packaging and marketing capabilities.
Beauty Garage has demonstrated strong financial growth, with profit surging 149 percent to ₹31.6 crore in the financial year ended March 2026, compared to ₹12.7 crore in the previous year. Revenue increased 61 percent to ₹96.9 crore from ₹60.2 crore during the same period. The company has appointed Systematix Corporate Services as the merchant banker for the IPO, with Bigshare Services serving as the registrar to the offer.
