India's Honasa Consumer reverses early gains after block deal

Honasa Consumer

05/12/2023 04:35

** Shares of Honasa Consumer  HONA.NS , the parent of
Mamaearth, rose as much as 5.70%, to 406 rupees per share in
early trade, before erasing all the gains; HONA down 1.24% as of
9:59 a.m. IST
    ** About 6.29 mln shares of HONA change hands in a block
deal, at a price of 379.14 rupees per share as of 9:59 a.m. IST,
LSEG data shows
    ** Fireside Ventures was planning to offload 6.1 mln shares,
aggregating to 1.9% stake in the company, in a block deal on
Dec. 5, said several media reports quoting sources
    ** As of Nov. 3, Fireside Ventures Investment Fund I held
24.35 mln shares (7.57% stake) of HONA - exchange data
    ** Trading volume is 8.23 mln shares as of 9:59 a.m. IST,
twice the 30-day avg - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))