Major Stakeholder Shift in Honasa Consumer: Peak XV Partners and Allies Divest Shares
Peak XV Partners, alongside other investors, divested a 10% stake in Honasa Consumer for Rs 1,601 crore. The sale led to significant changes in the ownership structure, with ICICI Prudential Life Insurance and Morgan Stanley among the buyers. Peak XV's stake in Honasa Consumer dropped from 18.69% to 14.88%.
- Country:
- India
Peak XV Partners, formerly known as Sequoia Capital India & SEA, along with four other investors, divested a 10 percent stake in Honasa Consumer, the owner of the Mamaearth brand, for Rs 1,601 crore through open market transactions.
The divestment involved 3.23 crore shares, as revealed by data from the National Stock Exchange (NSE). Peak XV Partners offloaded over 1.23 crore shares, accounting for a 3.81 percent stake in Honasa Consumer, while Fireside Ventures sold 65.83 lakh shares or a 2.03 percent stake.
Other significant sales were by Sofina Ventures SA, Stellaris Venture Partners, and Sequoia Capital Global Growth Fund III-US/India Annex Fund, who cumulatively decreased their holdings in the Gurugram-based company. Post-transaction, Peak XV Partners' stake in Honasa Consumer diminished from 18.69 percent to 14.88 percent. ICICI Prudential Life Insurance and Morgan Stanley were among the notable buyers in the transaction. The shares were traded at an average price of Rs 495.
(With inputs from agencies.)
ALSO READ
High Stakes: Harris vs. Trump in the Final Stretch to the Presidency
Premier Energies Ltd Shares Soar 120% on Stock Market Debut
Shanghai Shares Hit Seven-Month Low Amid Manufacturing Slump
European Shares Steady Amid Mixed Industrial and Mining Performances
Gadkari Advocates for Majority Stake for Foreign Partners in Tunnel Projects