Honasa Consumer Block Deal: Mamaearth shares tumble

Shares of Honasa Consumer, the company that operates Mamaearth, fell around 7 per cent on Tuesday after a block deal involving 66.20 lakh shares. This transaction, executed at an average price of Rs 439 per share, amounted to a total of Rs 291 crore. This resulted in a 2 per cent stake change in Honasa Consumer.

At the time of filing this report, at 1:39 PM, its shares traded at Rs 438.35, down 4.31 per cent against previous closing price. So far 1.04 crore shares changed hands on the counter around the same time. During the session, the stock hit an intraday low of Rs 426.25 on NSE.

According to media reports, Fireside Ventures and Sofina Ventures were the likely sellers in this deal.
Fireside Ventures Investment Fund had a 5.28 per cent stake in Honasa Consumer, while Sofina Ventures held a 6.16 per cent equity stake in the company, based on the most recent shareholding data available.