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Block deal: Mamaearth slides 5% after 6.6 mn shares change hands

Shares of Honasa Consumer, parent company of Mamaearth dropped by 4.8 per cent at Rs 435.05 per share on the BSE in Tuesday's early morning trades

Mamaearth

SI Reporter New Delhi

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Shares of Honasa Consumer, parent company of Mamaearth dropped by 4.8 per cent at Rs 435.05 per share on the BSE in Tuesday’s early morning trades. This came after around 2 per cent equity of the company changed hands in a block deal. 

According to the exchange data, a total of 6..62 million shares, representing 2 per cent of the equity, were traded in the block deal. 

The shares were exchanged at an average price of Rs 439 per share. The transaction is estimated to be valued at Rs 291 crore.

According to reports, Fireside Ventures and Sofina Ventures intended to sell up to 1 per cent of the company's total equity through block deals, with an option to increase it to 2 per cent.

As of March, 2024, Fireside Ventures held a 5.28 per cent stake in the company, while Sofina Ventures owned a 6.16 per cent in equity.

Honasa Consumer posted a consolidated profit after tax of Rs 30.4 crore for the March quarter of FY24, against a loss of Rs 161.78 crore in the year-ago period. In the preceding December quarter of FY24, the company had reported a PAT of Rs 25.9 crore. 

Furthermore, revenue from operations witnessed a robust growth of 21 per cent, reaching Rs 471 crore in the last quarter of FY24, compared to Rs 387.80 crore in the year-ago quarter. 

At 10:41 AM; the stock of the company fell 4.04 per cent higher at Rs 439.20 per share. By comparison, the BSE Sensex rose by 0.32 per cent.

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First Published: Jun 11 2024 | 10:51 AM IST

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