Mamaearth Investor Fireside Ventures Bags 51 Times Returns On 1.89% Stake Sale
Fireside Ventures Investment Fund, a major investor of Mamaearth's parent Honasa Consumer Ltd., has sold 1.89% stake via a bulk deal for Rs 230 crore.
Fireside Ventures had initially invested Rs 23.6 lakh crore at an average cost of Rs 7.33 per share. That compares with the current selling price of Rs 378 apiece. This marks 51.57 times return for the investor.
Fireside Ventures sold 60.88 lakh shares at Rs 378 apiece, according to data from the National Stock Exchange. Norges Bank bought 0.77% stake for Rs 378 apiece.
The fund had 7.57% stake in Honasa Consumer, as of Nov. 3. After the transaction, the stake has reduced to 5.61%.
During the initial public offering of Honasa Consumer, Fireside Ventures offloaded 79.72 lakh equity shares for a sum of Rs 258 crore.
Shares of Honasa Consumer closed 4.41% lower at Rs 363.40 apiece, as compared with a 0.81% advance in the Nifty 50.
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