The shares opened at INR 440.60 apiece, as compared to previous close at INR 457.70 The shares were trading at INR 441.
35 at 10:00 AM on Tuesday According to exchange data, 66.2 lakh shares, representing 2% equity, were traded in a block deal Shares of Mamaearth’s parent Honasa Consumer Ltd declined nearly 4% during early trades on Tuesday (June 11) following a large block deal that took place in the stock. The shares opened at INR 440.
60 apiece, as compared to previous close at INR 457.70. The shares were trading at INR 441.
35 at 10:00 AM on Tuesday. According to exchange data, 66.2 Lakh shares, representing 2% equity, were traded in a block deal.
The shares exchanged at an average price of INR 439 each. This transaction is valued at approximately INR 291 Cr. The identities of the buyers and sellers involved in the transaction are currently unknown.
However, as per a CNBC-TV18 report, Fireside Ventures and Sofina Ventures were the likely sellers in the deal. Fireside Ventures and Sofina Ventures were looking to sell up to a 2% stake in Mamaearth’s parent company through a block deal, targeting earnings of INR 273.2 Cr.
The floor price for the block deal was set at INR 421.3 per share, reflecting an 8% discount to Honasa’s closing price on Monday. As per the shareholding pattern in the March quarter, Fireside Ventures held a 5.
28% stake in the company, while Sofina Ventures held a 6.16% stake. Founded in 2016 by the husband-wife duo of Varun and Ghazal Alagh, Honasa’s.
