Peak XV With Others Divest Stake Worth Rs 1,600 Cr In Mamaearth’s Parent

Peak XV along with Stellaris Ventures, Sofina Ventures, and Fireside Ventures, collectively sold their shares worth Rs 1,600 crore (USD 190 million) in Honasa Consumer. The investors sold 3.24 crore shares of Mamaearth at an average price of Rs 495.48 per share, as per media reports.

During the bulk deal, shares valued at Rs 298 crore, Rs 225 crore, and Rs 326 crore were sold by Sofina Ventures, Stellaris Ventures, and Fireside Ventures, respectively. Peak XV and its previous company Sequoia Capital Global Growth Fund III also divested shares valued at about Rs 753 crore.

Notably, Morgan Stanley and ICICI Prudential Life bought a total of Rs 262 crore worth of Mamaearth shares, according to media reports.

The shares were sold on Tuesday of this week, when the Gurugram-based company's share price hit an all-time high of Rs 547. As of September 12, Mamaearth's total market value was Rs 16,046 crore (USD 1.91 billion), according to media reports.

In the first quarter of the current fiscal year, the company reported a 17.6per cent quarter-on-quarter increase in revenue, reaching Rs 554 crore, up from Rs 471 crore in Q4 FY24. This marked the firm’s most profitable quarter, with Rs 40 crore in profit after tax (PAT).

Peak XV’s recent exit portfolio includes companies like Blinkit, Zomato, Freshworks, Awfis, Ixigo, Go Fashion, MamaEarth, and others.