Shares of Mamaearth parent Honasa Consumer slipped 4.5 percent in trade on June 11 after a block deal worth Rs 291 crore took place on the exchanges.
Around 66.20 lakh shares, representing a 2 percent stake in the Mamaearth parent changed hands in the transaction. The block deal was executed at an average price of Rs 439 apiece, reflecting an over 4 percent discount from the stock's previous closing of Rs 457.95 per share.
While Moneycontrol could not immediately identify the parties involved in the transaction, CNBC-TV18 reported citing sources that Fireside Ventures and Sofina Ventures were the likely sellers in the deal.
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According to the CNBC-TV18 report, Fireside Ventures and Sofina Ventures were looking to sell up to 2 percent stake in the Mamaearth parent through a block deal, aiming to earn Rs 273.2 crore. Despite the two investors being the likely sellers in this transaction, the stake individually offloaded by both the entities still remains unknown.
Fireside Ventures Investment Fund owned a 5.28 percent stake in Honasa Consumer while Sofina Ventures held a 6.16 percent equity in the company as per its latest shareholding data.
At 09.41 am, shares of Honasa Consumer were trading at Rs 440.20 on the NSE. The block deal also tipped off a spike in volumes in the counter as 80 lakh shares changed hands so far, reflecting a meteoric rise from the one-month daily traded average of nine lakh shares.
The Mamaearth parent also reported a consolidated net profit of Rs 30.47 crore for the fourth quarter of FY24, marking its highest-ever quarterly profit. This also reflected a significant turnaround from the loss of Rs 161.75 crore recorded in the same period last year. Furthermore, revenue from operations increased by 21.5 percent year-on-year to Rs 471.09 crore in the same quarter.
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