Institutional investors pick up Honasa shares in ₹643-crore block deal, shares in red

Shares of Honasa Consumer were recently traded in a block deal worth around ₹643 crore, with several domestic institutional investors participating. Franklin Templeton Mutual Fund and ICICI Prudential Life Insurance were among the buyers, acquiring a combined 1% stake in the company. Peak XV Partners Investments VI, on the other hand, sold 3.3% of the shares at ₹450.20 per share.

The transaction involved approximately 1.59 crore shares across the various trades. These institutional investments come at a time when Honasa is expanding its distribution network through offline retail channels, aiming to reach 3 lakh outlets within three years, up from the current 1.2 lakh direct outlets. Analysts, including HDFC Securities, have expressed optimism about the company's prospects, projecting a revenue growth of 25% for the September quarter of FY27 and an operating profit margin of around 12%.

As of October 1, Honasa shares were trading at ₹418.15 on the NSE, marking a 3.06% decrease from the previous close of ₹431.35, despite a year-over-year gain of 45.91%.