Honasa Consumer Ltd., the parent company behind the popular Mamaearth brand, is poised for a significant block deal on Tuesday as several existing shareholders aim to offload a substantial number of shares. Up to 89 lakh (8.9 million) shares are expected to change hands.
The offer price for these shares has been fixed at Rs 450 per equity share. This represents a 3.44 percent discount when compared to Monday's closing price of Rs 466.05 apiece on the stock exchange.
Key Investors Participating
Among the key shareholders looking to divest their holdings are prominent investment firms. These include Peak XV Partners Investment VI, Sequoia Capital Global Growth Fund III - US/INdia Annex Fund, L.P., and Redwood Trust. Their participation underscores a strategic move to adjust their stakes in the beauty and personal care giant.
Transaction Details
Jefferies has been appointed as the sole bookrunner for this extensive block deal, overseeing the execution of the transaction. According to a Bloomberg report, Honasa Consumer had a total of 32.6 crore (326 million) shares outstanding as of June 30, providing context to the scale of this current divestment.
Investors will be closely watching the market's reaction to this block deal, as such large-scale transactions can influence share price movements and market sentiment for the company.