Shares of Honasa Consumer saw a 5% decline following a major block trade worth ₹878.35 crore on the National Stock Exchange (NSE). Approximately 1.75 crore shares, equivalent to 8.1% of the company’s total equity, were traded at ₹501.3 per share in the transaction.
This block deal involved several major investors, including Peak XV Partners, Sequoia Capital, Redwood Trust, Fireside Ventures, Stellaris Ventures, and Sofina Ventures, all selling their stakes in the company. The lock-up period for these investors, which restricts further sale of shares, has been set for 60 days.
Kotak Securities and Jefferies India acted as the brokers for the transaction, facilitating the sale of a significant portion of Honasa Consumer’s equity. This development comes shortly after Honasa Consumer’s recent growth trajectory in the personal care and beauty segment, but the block deal has triggered a temporary dip in the company’s stock value, leading to a sell-off in the market
