Stellaris Venture Partners Sells Honasa Consumer Shares for Rs 141 Crore

In a significant transaction, investment firm Stellaris Venture Partners divested a portion of its stake in Honasa Consumer, a prominent beauty and personal care company, through an open market transaction on the National Stock Exchange (NSE).

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Stellaris Venture Partners Divests 1% Stake

Stellaris Venture Partners, based in Bengaluru, sold 32,17,468 shares, representing a 1% stake in Honasa Consumer Ltd, as per the bulk deal data recorded on the NSE. The shares were offloaded at an average price of Rs 437.04 per share, resulting in a transaction value of Rs 140.61 crore.

Shareholding Decline

Following this transaction, Stellaris Venture Partners' shareholding in Honasa Consumer has decreased from 5.78% to 4.78%. The buyers of the Honasa Consumer shares could not be immediately identified.

Honasa Consumer's Stock Performance

On the day of the transaction, Honasa Consumer's shares witnessed a notable surge, climbing 6.35% to close at Rs 473.95 per share on the NSE.

Recent Divestments in Honasa Consumer

In December 2022, private equity firm Fireside Ventures also divested a 1.9% stake in Honasa Consumer, the parent company of Mamaearth, for Rs 230 crore.

Honasa Consumer's Financial Performance

In November 2022, Honasa Consumer reported a significant financial milestone, achieving an almost two-fold increase in its consolidated profit after tax to Rs 29.43 crore for the September quarter.

About Honasa Consumer

Founded in 2016 by the dynamic husband-wife duo Varun Alagh and Ghazal Alagh, Honasa Consumer is a Gurugram-based beauty and personal care company. The company operates under a House of Brands architecture, with Mamaearth as its flagship brand and five additional brands, including The Derma Co, Aqualogica, Ayuga, BBlunt, and Dr Sheths.