Peak XV Partners, other PE funds sell 7.94% in Mamaearth for Rs 1,276 cr

Peak XV Partners (formerly Sequoia Capital India), Sofina Ventures and Stellaris Venture Partners sold a cumulative 7.94 per cent worth Rs 1,276 crore in Honasa Cons­umer, company that operates beauty products brand Mamaearth. Peak XV sold 3.81 per cent each, Sofina sold 1.86 per cent, Stellaris sold 1.4 per cent, and Sequoia Capital Global Growth Fund sold another 0.89 per cent. They sold a total of 26 million shares at Rs 495 apiece. Fireside Ventures picked up 2.03 per cent stake, ICICI Prudential Life Insurance Com­p­any bought 0.89 per cent stake and Morgan Stanley another 0.75 per cent. Shares of Honasa declined 5.5 per cent to end at Rs 493. At the end of June 2024 quarter, Peak XV held 18.69 per cent stake in Honasa, while Sofina, Stellaris and Seq­uoia Global 5.16 per cent, 4.75 per cent and 4.35 per cent respectively. Honsa had come out with a Rs 1,701-crore IPO in October 2023. Back then, it had sold shares at Rs 324 apiece.

 

P N Gadgil IPO booked 59x on final day 
 

PN Gadgil Jewellers’ IPO saw nearly 60 times more bids than shares on offer and attracted bids of more than Rs 48,100 crore. The institutional investor portion of the issue was subscribed 137 times, high networth individual portion 56 times and retail portion over 16.6 times. The jewellery retailer’s Rs 1,100-crore IPO consisted of fresh fundraise of Rs 850 crore and an offer for sale of Rs 250 crore. The price band for the issue was Rs 456-480 per share. At the upper-end of the price band, the company is valued at Rs 6,514 crore. “At the upper price band of Rs 480, the IPO is priced at an P/E of 42.2x and EV/sales of 1.1x vs listed peers’ average of 34.5x and 1.5x respectively on FY24 basis,” said a note by Indsec Research. BS reporter

Shree Tirupati Balajee up 17.5% on market debut
 

Shares of Shree Tirupati Balajee Agro Trading Company ended with a premium of 17.5 per cent against the issue price of Rs 83 on Thursday. The stock listed at Rs 92.90, reflecting a jump of 11.92 per cent from the issue price on the BSE. Shares of the firm ended at Rs 97.54 — its upper circuit limit —, surging 17.51 per cent. At the NSE, it began the trade at Rs 90, rallying 8.43 per cent. The stock ended at Rs 94.50 —its upper circuit limit — refl­ecting a jump of 13.85 per cent. The firm’s market valuation stood at Rs 795.64 crore. In traded volume terms, 1.706 million shares of the firm were traded at the BSE and 3.583 million shares at the NSE during the day. The initial share sale of Shree Tirupati Balajee Agro Trading Company received 124.74 times subscription on the closing day of bidding on Monday. PTI