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Mamaearth shares worth ₹230 cr could be sold by Fireside Ventures

Money Control

Money Control · 1y ago

Mamaearth shares worth ₹230 cr could be sold by Fireside Ventures

Fireside Ventures is likely to sell 61 lakh shares worth over ₹230 crore of Mamaearth-parent Honasa Consumer tomorrow in a block deal, CNBC Awaaz reported. Shares, equivalent to a 1.9% stake in the company, will reportedly have a floor price in the range of ₹368.7-₹384.1. Honasa made its stock market debut last month at a price of ₹330 per share.

Related News

Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent

Entrackr

Entrackr · 11m ago

Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent

Peak XV (formerly Sequoia Capital), along with Stellaris Ventures, Sofina Ventures, and Fireside Ventures, collectively sold shares worth Rs 1,600 crore ($190 million) in Honasa Consumer Limited, the parent company of the direct to consumer (D2C) skincare and beauty brand MamaEarth. The aforementioned investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share, according to the company’s bulk deal data accessed from the National Stock Exchange. Peak XV and its former entity Sequoia Capital Global Growth Fund III divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris Ventures, and Fireside Ventures sold shares worth Rs 298 crore, Rs 225 crore, and Rs 326 crore, respectively, during the bulk deal. Importantly, ICICI Prudential Life and Morgan Stanley collectively purchased Rs 262 crore worth of shares in MamaEarth. According to Entrackr’s estimates, MamaEarth sold 10% of its shares in this single bulk deal. The firm’s total outstanding shares stood at 32.42 crore as of June 30, 2024. The sale of shares came at a time when the Gurugram-based firm reached its all-time high share price of Rs 547 on Tuesday this week. As per NSE data, MamaEarth’s overall market capitalization stood at Rs 16,046 crore ($1.91 billion) as of September 12. In the first quarter of the current fiscal year, the company reported a 17.6% quarter-on-quarter increase in revenue, reaching Rs 554 crore, up from Rs 471 crore in Q4 FY24. This marked the firm’s most profitable quarter, with Rs 40 crore in profit after tax (PAT). Peak XV’s recent exit portfolio includes companies like Blinkit, Zomato, Freshworks, Awfis, Ixigo, Go Fashion, MamaEarth, and others.

Honasa consumer sees INR 238 Cr block deal, stocks tank after early gains

Inc42 · 1y ago

Honasa consumer sees INR 238 Cr block deal, stocks tank after early gains

Honasa Consumer Ltd, the parent company of direct-to-consumer brands Mamaearth and The Derma Co, witnessed a block deal resulting in the exchange of around 2% stake or 62.90 lakh shares. The deal, worth INR 238 crore, occurred after market opening, causing the company's shares to trade at INR 379 apiece on the BSE, down 1% from the previous day's closing price. This follows reports of venture capital firm Fireside Ventures planning to offload a 1.9% stake in Honasa Consumer.

Honasa Consumer listing puts focus on investors’ returns, unrealised gains

Economic Times

Economic Times · 1y ago

Honasa Consumer listing puts focus on investors’ returns, unrealised gains

Honasa Consumer, the parent company of Mamaearth, and the attention now being given to the returns made by its investors and the unrealized gains of non-selling shareholders. Fireside Ventures, an early investor, has raised Rs 258 crore from the IPO and still holds unsold investments worth Rs 821.49 crore. Stellaris Venture Partners, another early investor, sold a stake worth Rs 437.3 crore, including Rs 355 crore from the IPO. Angel investors, including Snapdeal founders, also saw significant returns.

Swiggy’s Sriharsha Majety, Investors Sold Shares Worth INR 670 Cr Ahead Of IPO

Inc42 · 10m ago

Swiggy’s Sriharsha Majety, Investors Sold Shares Worth INR 670 Cr Ahead Of IPO

Days before Swiggy filed its updated draft red herring prospectus (DRHP), founder Sriharsha Majety and investors sold shares worth INR 670 Cr. Majety sold shares to Torroz Fintech for INR 23 Cr, while Torroz also purchased shares from Norwest Ventures for INR 200 Cr. Additionally, Strootaay Unlisted Brokers bought shares from Elevation Capital for INR 439.12 Cr. Torroz Fintech specializes in private market investments and was founded by directors of 4Sight Global Ventures in 2022.

ICICI Prudential Increases Its Stake In Honasa To 5.48%

Inc42 · 11m ago

ICICI Prudential Increases Its Stake In Honasa To 5.48%

ICICI Prudential Life Insurance Company has increased its stake in Honasa through the acquisition of 46.91 lakh shares. Prior to this, ICICI Prudential held a 4.03% stake in Honasa, and its stake in the company now stands at 3.81% as of the end of the June quarter of 2024. Additionally, several investors, including Peak XV Partners, Fireside Ventures, and Stellaris Venture Partners, have sold Honasa shares worth INR 1,601.68 crore on Thursday.

Peak XV, Others Dump Honasa Shares Worth INR 1,602 Cr

Inc42 · 11m ago

Peak XV, Others Dump Honasa Shares Worth INR 1,602 Cr

In a recent transaction, Peak XV Ventures sold 1.23 crore shares worth INR 610.98 crore, while Sequoia Capital Global offloaded 28.71 lakh shares worth INR 142.12 crore. Morgan Stanley and ICICI Prudential acquired these shares for INR 119.67 crore and INR 142.49 crore, respectively. The startup's shares experienced a 5.48% dip on the BSE after reaching a record high of INR 546.5 earlier in the week.

Mamaearth shares tumble 5% after Rs 1,763 crore stake sale via block deal

Economic Times

Economic Times · 11m ago

Mamaearth shares tumble 5% after Rs 1,763 crore stake sale via block deal

Shares of Honasa Consumer, the parent company of Mamaearth, dropped 5% following the sale of a 10.9% equity stake worth Rs 1,763 crore via a block deal. The likely sellers included Peak XV Partners Investments VI, Redwood Trust, Sequoia Capital Global Growth Fund III - U.S./India Annex Fund, Fireside Ventures Investment Fund I, Stellaris Venture Partners India, and Sofina Ventures SA. The deal, likely occurring at Rs 480 per share, represents an 8% discount from the previous day's closing price. Honasa Consumer reported a 63% YoY increase in consolidated net profit for Q2 2024 and a 19% increase in revenue.

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Inc42 · 1m ago

Nexus Ventures Sells 1.2 Cr Shares Of Delhivery

Nexus Venture Partners sold 1.2 crore shares of Delhivery for INR 461 crore through block deals. The major buyers included Axis Mutual Fund, Citigroup Global Markets, HDFC, and Tata Mutual Fund, among others. Morgan Stanley Asia Singapore emerged as the largest buyer, acquiring over 47 lakh shares worth INR 184.7 crore. Most shares, 1.02 crore, were sold from Nexus Venture Partners III for INR 395.2 crore, with additional shares sold from Nexus Opportunity Fund.

Motilal Oswal MF Dumps 2.8 Cr Zomato Shares; Societe Generale, Goldman Sachs, Others Buy

Inc42 · 1y ago

Motilal Oswal MF Dumps 2.8 Cr Zomato Shares; Societe Generale, Goldman Sachs, Others Buy

Motilal Oswal Mutual Fund sold 2.8 crore shares of foodtech major Zomato in a block deal worth INR 645.8 crore. This move came as Zomato's stock price saw a significant surge. The shares sold by the mutual fund were purchased by institutional investors such as Axis Mutual Fund, Citigroup, Goldman Sachs, and Societe Generale, with the latter buying the highest number of shares for INR 289.7 crore.

Bumper exits in 2023 provide cheer for VC investors

Money Control

Money Control · 1y ago

Bumper exits in 2023 provide cheer for VC investors

The successful IPO of Honasa Consumer (Mamaearth) has brought cheer to the venture capital industry, particularly early investors in D2C brands like Fireside Ventures and Stellaris Ventures. This positive momentum is expected to continue, with supportive public markets enabling successful IPOs for startups such as Mamaearth, IdeaForge, and Zaggle. Venture capitalists are experiencing impressive profits through these exits, suggesting a favorable environment for VC investments in the coming months.

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