Honasa Consumer share price fell over 4% in early trade on Tuesday amid reports of block deal. The stock declined as much as 4.6% to Rs 445.00 apiece on the BSE.
According to sources, Peak XV Partners, Sequoia Capital Global Growth Fund III and Redwood Trust are likely to sell up to 89 lakh equity shares of Honasa Consumer Ltd, through a block deal.
This represents a 2.73% equity stake in the beauty brand Mamaearth owner.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
The floor price for the block deal is set at Rs 450 per share, which is at a discount of up to 3.4% to Monday's closing price, sources added.
The total deal size is pegged at up to Rs 400 crore.
Honasa Consumer is the owner of beauty and personal care brands such as Mamaearth and The Derma Co.
Honasa Consumer Share Price Performance
Honasa Consumer share price has fallen over 4% in one month but has remained flat in three months. The stock has rallied 51% over the past six months, and in the past one year, Honasa Consumer shares have jumped 63%.
At 9:30 AM, Honasa Consumer share price was trading 3.33% lower at Rs 450.95 apiece on the BSE.
ALSO READ: Catch Stock Market Live Updates Here
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
