Most people have never heard of Beauty Garage, and that is by design. The company built its business one salon relationship at a time, quietly becoming a name stylists trust rather than one shoppers recognise off a shelf. Now it wants to take that quiet reputation public.
Beauty Garage Limited, the Mumbai-based company behind salon-grade haircare brands Shea and Botoliss, filed its draft red herring prospectus with SEBI on July 28, setting the stage for an IPO comprising a fresh issue of up to Rs 125 crore alongside an offer for sale of up to 78.36 lakh shares by promoters Jigar Babubhai Ravaria and Mahesh Babubhai Ravaria. The company may also raise up to Rs 25 crore through a pre-IPO placement, adjusted against the fresh issue if it happens.
The bulk of that fresh capital has one clear destination: a new manufacturing plant in Vasai, Maharashtra. Beauty Garage currently makes its products through a mix of in-house and third-party facilities, and owning more of that production chain would give it tighter control over quality, cost, and how fast it can scale. Systematix Corporate Services is running the issue as sole book-running lead manager, with Bigshare Services handling registrar duties, a modest banking setup that fits an offering of this size.
What makes the filing notable is how far the company has come in a short window. Founded in 2019 and formally incorporated in 2021, Beauty Garage has built a distribution network reaching more than 13,000 salons across 272 cities, positioning its Shea moisturising line and Botoliss keratin treatments squarely in the premium tier salons use to build their service menus, not the mass-market shelf.
The timing lines up with a broader wave of consumer IPOs entering India's markets this year, as investors bet on the country's beauty and personal care sector, projected to approach $30 billion by 2028, with professional salon products among its fastest-growing corners. The DRHP now heads into SEBI's standard 30 to 75 day review before Beauty Garage can set a price band and open its books.
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Startup Unplugged
