Honasa block deal: Company denies ESOP sale worth Rs 150-cr

Mamaearth's parent company, Honasa Consumer Care, has clarified that there will be no block deal involving Employee Stock Ownership Plans (ESOPs), refuting an earlier report by CNBC-Awaaz. The news channel, on November 27, had stated, based on sources, that employees of Honasa were likely to sell shares amounting to Rs 150 crore in a block deal during the week.

The reported block deal was expected to occur at a 5-7 percent discount to the market price of Rs 477.10, with the ESOP pool comprising about 31 lakh shares, and Kotak being the broker for the deal.

However, Honasa Consumer Care stated in an email, "There is no block deal that’s happening on ESOPs."

Since its listing, shares of Honasa Consumer have surged over 47 percent from the issue price of Rs 324. On November 24, the stock closed 12 percent higher on the NSE. According to the prospectus, the company has issued stock options under two schemes - ESOP 2018 and ESOP 2021.