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Fireside Ventures Offloads Its 1.9% Stake In Mamaearth For Rs230cr: Report

The sale will be executed through multiple block deals. Kotak Securities has been designated as the broker for this transaction

According to media reports, Fireside Ventures, a venture capital firm, sells a 1.9 per cent stake in Honasa Consumer, the parent company of Mamaearth, a direct-to-consumer (D2C) unicorn. 

The sale will be executed through multiple block deals. Kotak Securities has been designated as the broker for this transaction.

Fireside Ventures intends to offload 61 lakh shares at a floor price ranging from INR 368.7 to INR 384.1 per share. The potential proceeds from the sale could amount to INR 234 crore at the upper limit and INR 224 crore at the lower limit. 

This move suggests Fireside Ventures may be aiming to capitalise on favorable market conditions, even amid reports of the D2C unicorn allegedly overstocking its distributors.


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