ICICI Prudential, Morgan Stanley buy stake in Honasa Consumer via block deal, Peak XV and Fireside sell

On September 12, 2024, Honasa Consumer Limited, the parent company of Mamaearth, experienced a significant block deal involving a 10.9% stake of its shares. This large transaction amounted to Rs 1,763.3 crore. Peak XV Partners and Sequoia Capital were among the major sellers in this deal.

A total of 3.5 crore shares were traded at an average price of Rs 500 each. The stake sale saw contributions from several investors, including Peak XV Partners, Sequoia Capital, Redwood Trust, Fireside Ventures, Stellaris Ventures, and Sofina Ventures. The block deal was initially planned for an 8.1% stake but was later increased to 10.9%.

The key buyers in this deal included Morgan Stanley and ICICI Prudential. Specific transactions included:

• ICICI Prudential Life Insurance Company purchased 28,78,787 shares at Rs 495 each.
• Morgan Stanley acquired 24,17,676 shares at Rs 495 each.
• Other buyers included Jump Trading Financial India and Mansi Share and Stock Advisors.

Here is the list from NSE Data – 

Following the block deal, Honasa Consumer’s share price on the NSE was under pressure, trading at Rs 497.90. This reflects a 4.62% decrease from the previous close. Despite this dip, the stock has shown a notable increase of over 16% since the beginning of the year, outperforming the BSE Sensex.