India's Honasa Consumer falls on reports of $67 million block deal
BUZZ-India's Honasa Consumer falls on reports of $67 million block deal ** Shares of Honasa Consumer HONA.NS fall 2.99% to 452.30 rupees
** Stock falls on media reports that 14 million shares, or about 4.4% of Honasa's equity, changed hands in a block deal
** Shares changed hands at an average price of 450 rupees apiece, valuing the transaction at about 6.43 billion rupees ($66.89 million), CNBC-TV18 reports
** NDTV Profit reports, citing sources, that Peak XV Partners, Sequoia Capital Global Growth Fund III and Redwood Trust were the likely sellers in the block deal
** Honasa, Peak XV, Sequoia and Redwood Trust did not immediately respond to Reuters' request for comment
** HONA rated "buy" on avg by 15 analysts, median PT at 560 rupees, according to LSEG-compiled data
** YTD, Honasa stock up 58.31%
($1 = 96.1250 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Recent news on Honasa Consumer
See all newsBrief: Sequoia Capital Global, Peak xv Partners Sell 13.3 Mlns Honasa Consumer Shares Via Bulk Deal On NSE - Exchange Data
India's Honasa Consumer falls on reports of $67 million block deal
Brief: Honasa Consumer Calls Off Proposed Acquisition Of Fluence Pharma Due To Non-Fulfilment Of Conditions
India's Honasa hits nearly 2-year high after quarterly profit more than doubles
Brief: Honasa Consumer Q1 Consol Net PAT 902.5 Million Rupees