Bulk Deals: Stellaris Venture sold 1% stake for Rs 140.61 cr in Honasa Consumer

As per the bulk deals data shown by the exchanges, Stellaris Venture Partners sold 32.17 lakh shares in Honasa Consumer at an average price of Rs 437.04

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Alternative Investment Fund, Stellaris Venture Partners India sold a 1 percent stake in Mamaearth’s parent company Honasa Consumer. As per the bulk deals data shown by the exchanges, Stellaris Venture Partners sold 32.17 lakh shares in the company for an average price of Rs 437.04, which valued the total transaction at Rs 140.61 crore.

Shares of Honasa Consumer gained 6.35 percent on January 8 and closed the day at Rs 473.95.

As per shareholding data by the end of October 2023, Stellaris Venture Partners held 1.86 crore or 5.78 percent stake in Honasa Consumer.

In December, Fireside Ventures Investment fund, another AIF invested in the company sold a 2 percent stake worth Rs 230 crore in the company.

Honasa stock had gained 30 percent since that stake sale.

On the other hand, Bandhan Mutual Fund bought shares worth Rs 14.1 crore in Hi-tech Pipes. The mutual fund bought 10 lakh shares in Hi-tech Pipes for Rs 141. The share price of Hi-Tech Pipes surged nearly 4 percent to Rs 142.1.

Hi-Tech Pipes is a manufacturer of steel pipes and is engaged in mainly manufacturing and supply of electric resistance welding (ERW) pipes.