Honasa Consumer, the parent company of Mamaearth, saw its share price fall by over 6% in early trade on Thursday, following reports of a block deal. Shares dropped as much as 6.10% to Rs 490.15 per share on the BSE. This decline follows a 3.5% drop in the stock price on Wednesday.
Block Deal Details
According to a CNBC-TV18 report, Honasa Consumer shareholders, including several private equity (PE) funds, likely sold 3.5 crore shares, representing a 10.9% stake in the company, through a block deal.
The selling shareholders reportedly include Sequoia Capital, Peak XV Partners, Redwood Trust, Fireside Ventures, Stellaris Ventures, and Sofina Ventures.
Transaction Value and Floor Price
The floor price of the block deal was set at around ₹500 per share, valuing the transaction at approximately Rs 1,763.3 crore. This price is over 4% lower than Wednesday’s closing price of Rs 522 per share. Kotak Securities and Jefferies India are believed to be the brokers for the deal.
Shareholder Stakes as of June 2024
As of the quarter ending in June 2024, Peak XV Partners held an 18.69% stake in Honasa Consumer, while Sequoia Capital owned 4.35%, and Fireside Ventures held 4.28%. Sofina Ventures and Stellaris Ventures owned 5.16% and 4.75%, respectively.
Stock Performance in Last One Year
Honasa Consumers’ shares have delivered positive returns across various time frames. Over the last month, the stock has shown a positive return of 9.80%, indicating short-term growth. In the last six months, the performance has been even more impressive, with a substantial increase of 29.49%, showcasing the stock’s resilience and upward momentum.
Year-to-date, Honasa consumers shares have surged by 16.18%, emphasizing the stock’s positive trajectory in the current calendar year. Looking back over the last twelve months, the stock has demonstrated significant growth, surpassing 47.11%. These consistent positive returns underscore the stock’s strong performance and appeal to investors.