HomeLane IPO, the MS Dhoni backed home interior start-up plans to raise ₹1500 crore through an initial public offering by mid-2022. The issue will be a combination of primary and secondary shares where some existing investors, including Sequoia Capital and Accel Partners, will partly exit.
Founded in 2014 by Srikanth Iyer and Tanuj Choudhry, HomeLane provides end-to-end personalized home interior solutions serving over 20,000 customers with 1400+ design experts.
Awarded Economic Times Best Brands award in 2020 HomeLane comes with functionality and aesthetics to provide homeowners with customized and efficient home designs. They specialize in home interior designs and home décor and help its customers create a personalized home as per their needs.
Sequoia Capital, Accel Partners, IIFL AMC, Oman India Joint Investment Fund, Stride Ventures, Pidilite, Evolvence, K Ganesh-backed Growth Story, Aarin Capital, Baring Private Equity Partners, RB Investments, JSW Ventures, and other investors hold 70% stake in Bengaluru-based start-up Homevista Decor and Furnishings Pvt. Ltd.
HomeLane has its presence in 16 cities and 22 experience centers including Bengaluru, Chennai, Hyderabad, Coimbatore, Mysore, Delhi, Mumbai, Mangalore, Pune, Kolkata, Visakhapatnam, Lucknow, Indore, Surat, and a few more.
HomeLane had raised Rs 370 crore ($50 million) in a Series E funding round led by IIFL AMC’s Late Stage Tech Fund, Oman India Joint Investment Fund, and Stride Ventures last September. The company has raised a total of more than Rs 765 crore in the last seven years. Currently, HomeLane has valued at Rs 3600 crore and reported revenue of Rs 270 crore for FY21.
Dhoni came in as an equity partner and brand ambassador of HomeLane in August 2021 being the company’s first brand ambassador and the first celebrity to endorse an end-to-end home interiors brand.
Bank of America, Axis Capital, and ICICI Securities have been appointed as the lead managers to run the HomeLane IPO.
In this IPO-friendly market last year where eight Indian technology startups got listed in 2021 and the IPO spree is expected to continue, according to bankers and analysts, Homelane will be an interesting addition to the list this year.
Stay tuned for more details coming soon.