Shares of Mamaearth Parent Honasa Fall 4% Following Significant Block Deal

SUMMARY: After closing at INR 457.70 last time, the shares opened at INR 440.60 per. The price of the shares at 10:00 AM on Tuesday was INR 441.35. Exchange data shows that 66.2 lakh shares, or 2% of the equity, were exchanged in a block deal.After 66.20 lakh shares, valued at Rs 439 each, were swapped in a block deal for Rs 291 crore, the shares of Honasa Consumer, the company that owns Mamaearth, fell 4%. Both Fireside Ventures and Sofina Ventures, who both own sizeable investments in Honasa Consumer, were probably the sellers in the purchase, which amounted to a 2% ownership.

Tuesday saw a 4% decline in the value of Honasa Consumer's shares, which operates Mamaearth, following a block transaction involving the transfer of 66.20 lakh shares. A total of Rs 291 crore was transacted in this deal, which was completed at an average price of Rs 439 per share. It is the same as owning 2% of Honasa Consumer, Mamaearth's parent company.According to media sources, Sofina Ventures and Fireside Ventures were most likely the sellers in this deal. According to the most recent holdings data, Sofina Ventures owned 6.16% of Honasa Consumer's shares, while Fireside Ventures Investment Fund held 5.28% of the firm.