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What is the story about?
Shares of Honasa Consumer Ltd. fell as much as 4% on Tuesday, September 29, after a large transaction took place in the stock after market opening.
As many as 1.4 crore shares of Honasa Consumer amounting to 4.4% of the outstanding equity changed hands during this transaction, according to data available.
Shares changed hands at an average price of ₹450 per share, taking the total transaction value to ₹643.4 crore.
The official buyers and sellers of the transaction are not yet known.
On Monday, September 28, CNBC-TV18 had reported, citing sources, that Peak XV Partners Investments VI, Sequoia Capital Global Growth Fund III - US/India Annex Fund, Redwood Trust were set to sell of up to 2.73% of their existing total outstanding equity shares in the company for 400 crore via block deals.
The floor price had been set at ₹450 per equity share.
The sellers will be in a 45-day lock in period for further sale of shares, post the transaction.
As of the June quarter, promoter entities held 35.47% stake in the company while public shareholders held 64.53%, as per data available on the stock exchanges.
Of this, Peak XV Partners Investments VI held 14.8% stake and Sequoia Capital Global Growth Fund III - US/India held 3.44% stake. Redwood Trust likely held less than 1% stake in the company which is why the stock exchange data probably does not have record of its exact shareholding.
Honasa Consumer reported its first quarter earnings last month.
Its net profit more than doubled to 90.2 crore in the June quarter from 41.3 crore. Its revenue increased 27% to 756 crore from 595.2 crore.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 110.1 crore from 45.7 crore and its margin expanded to 14.57% from 7.68% in the year-ago period.
Shares of Honasa Consumer are trading 4% lower on Tuesday after the block deal at ₹448.25. The stock has risen 60% so far this year.
Also Read: Varmora Granito IPO listing: Grey market points to muted debut; key details to track
As many as 1.4 crore shares of Honasa Consumer amounting to 4.4% of the outstanding equity changed hands during this transaction, according to data available.
Shares changed hands at an average price of ₹450 per share, taking the total transaction value to ₹643.4 crore.
The official buyers and sellers of the transaction are not yet known.
On Monday, September 28, CNBC-TV18 had reported, citing sources, that Peak XV Partners Investments VI, Sequoia Capital Global Growth Fund III - US/India Annex Fund, Redwood Trust were set to sell of up to 2.73% of their existing total outstanding equity shares in the company for 400 crore via block deals.
The floor price had been set at ₹450 per equity share.
The sellers will be in a 45-day lock in period for further sale of shares, post the transaction.
As of the June quarter, promoter entities held 35.47% stake in the company while public shareholders held 64.53%, as per data available on the stock exchanges.
Of this, Peak XV Partners Investments VI held 14.8% stake and Sequoia Capital Global Growth Fund III - US/India held 3.44% stake. Redwood Trust likely held less than 1% stake in the company which is why the stock exchange data probably does not have record of its exact shareholding.
Honasa Consumer reported its first quarter earnings last month.
Its net profit more than doubled to 90.2 crore in the June quarter from 41.3 crore. Its revenue increased 27% to 756 crore from 595.2 crore.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 110.1 crore from 45.7 crore and its margin expanded to 14.57% from 7.68% in the year-ago period.
Shares of Honasa Consumer are trading 4% lower on Tuesday after the block deal at ₹448.25. The stock has risen 60% so far this year.
Also Read: Varmora Granito IPO listing: Grey market points to muted debut; key details to track
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