Investment firm Stellaris Venture Partners on Monday sold shares of Honasa Consumer for Rs 141 crore through an open market transaction.
Stellaris Venture Partners cashes in on Honasa Consumer, selling shares worth Rs 141 crore on the NSE. With a 1% stake sold at Rs 437.04 each, their holding drops to 4.78%.
Investment firm Stellaris Venture Partners on Monday sold shares of Honasa Consumer for Rs 141 crore through an open market transaction.
The Bengaluru-based Stellaris Venture Partners, through its affiliate Stellaris Venture Partners India I, divested 1 per cent stake in beauty and personal care company Honasa Consumer on the National Stock Exchange (NSE).
Stellaris Venture Partners India I disposed of 32,17,468 shares, amounting to a 1 per cent stake in Honasa Consumer Ltd, as per the bulk deal data on the NSE.
The shares were offloaded at an average price of Rs 437.04 apiece, taking the transaction value to Rs 140.61 crore.
After the latest transaction, Stellaris Venture Partners' shareholding has declined to 4.78 per cent from 5.78 per cent stake in Honasa Consumer.
Details of the buyers of Honasa Consumer's shares could not be ascertained.
On Monday, shares of Honasa Consumer jumped 6.35 per cent to close at Rs 473.95 per piece on the NSE.
Last month, private equity firm Fireside Ventures divested 1.9 per cent stake in Mamaearth's parent firm Honasa Consumer for Rs 230 crore.
In November last year, Honasa Consumer, reported an almost two-fold increase in its consolidated profit after tax to Rs 29.43 crore for the September quarter.
The Gurugram-based beauty and personal care company Honasa Consumer was founded in 2016 by husband-wife duo Varun Alagh and Ghazal Alagh.
The company launched the brand Mamaearth and added five more brands, including The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheth's. The Gurugram-based company built a 'House of Brands' architecture.