Mumbai-based haircare solution provider Beauty Garage Limited has officially set its public listing process in motion by submitting its preliminary papers. The Beauty Garage IPO DRHP details a fresh equity issue of ₹125 crore alongside an offer-for-sale of 78,36,000 equity shares by its promoters. This information is sourced from the recent filing of DRHP and other sources for informational and to track for more early updates purpose only.
Growth Engine Powered by In-Salon Distribution
Beauty Garage operates a specialized business model focused on salon-grade hair treatment systems and consumer aftercare products. Unlike mass-market personal care brands that rely primarily on general trade, Beauty Garage reaches end consumers through professional hair stylists and salon chains across 272 cities, stocking products in over 13,044 salons nationwide.
The company’s product line covers 133 stock-keeping units, ranging from professional keratin and scalp treatment systems to daily-use shampoos, conditioners, and styling solutions. According to official filing documents, revenue distribution is led by its flagship K9 range, which contributed 40% of operational revenue in FY26, followed by Shea at 26%, Botoliss at 23%, and Scalp Sense at 4%.
Capital Expenditure Plans for Vasai Facility
Out of the ₹125 crore raised through the fresh issue, the company intends to deploy ₹91.16 crore directly toward establishing a new manufacturing facility in Vasai, Maharashtra. The remaining net proceeds are slated for general corporate expenses. This dedicated capital expenditure aims to bring manufacturing capabilities fully in-house to support rising order volumes and optimize production economics.
Systematix Corporate Services Limited serves as the sole book-running lead manager for the issue, with Bigshare Services Private Limited acting as the registrar. The equity shares carry a face value of ₹10 each and are proposed to be listed on both the BSE and NSE.
Financial Performance Trend
The draft prospectus highlights substantial multi-year operational growth:
| Financial Metric | FY24 | FY25 | FY26 |
| Revenue from Operations | ₹51.02 Cr | ₹60.21 Cr | ₹96.93 Cr |
| Profit After Tax (PAT) | ₹8.82 Cr | ₹12.71 Cr | ₹31.62 Cr |
Between FY25 and FY26, operational revenue grew by over 60%, while net profit surged by 148%, reflecting expanding margins as product placement grew across high-end salon chains.
Issue Structure and Shareholding
The allocation framework for the issue reserves:
- Not more than 50% of the net offer for Qualified Institutional Bidders
- Not less than 15% for Non-Institutional Investors
- Not less than 35% for Retail Individual Investors
Promoters Jigar Babubhai Ravaria and Mahesh Babubhai Ravaria will each offload 39,18,000 equity shares via the offer-for-sale portion. The company may also consider a pre-IPO placement of up to ₹25 crore; if completed, the fresh issue component will be reduced proportionately.
Conclusion
With regulatory review currently underway at SEBI, Beauty Garage enters the pipeline of consumer specialty businesses seeking capital for capacity expansion. Industry participants will monitor approval progress and the subsequent announcement of price bands closer to the launch window. Once the more IPO details are available we will update in the IPO section, where you can check it for more details.
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