Honasa Consumer block deal: Fireside Ventures to sell 1.9% stake in Mamaearth parent, says report

Shares of Honasa Consumer Ltd will be in focus on Tuesday morning amid a media report suggesting a public shareholder Fireside Ventures would be offloading 61 lakh shares in the Mamaearth parent, accounting for 1.9 per cent stake in the company.

Honasa Consumer had closed 4.04 per cent lower at Rs 383.50 in an otherwise strong session for stocks on Monday. At the prevailing price, 61 lakh shares are worth Rs 234 crore.

Fireside Ventures owned 2,43,54,922 shares, or 7.57 per cent stake in Honasa Consumer as of September 30. The stake is worth Rs 934 crore as of Monday's closing price.

At the prevailing price, shares of Mamaearth parent are up 18.36 per cent over the issue price of Rs 324. The stock made its market debut on November 7.

Also read: Honasa Consumer block deal: Mamaearth employees may sell Rs 150 crore worth ESOPs this week, says report

The block deal would take place on on December 5, sources told CNBC-Awaaz, who also suggested a floor price of Rs 368.70-384.10, which suggested a discount of up to 4 per cent. Kotak Securities is said to be the broker of the deal.

Earlier, a report by CNBC-Awaaz suggested that employees of the companies were looking to sell ESOPs worth Rs 150 crore but the company reportedly denied that later in an email statement to Moneycontrol.

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