Honasa Consumer Denies Block Deal of ESOPs Amidst Market Speculation

Honasa Consumer Denies Block Deal of ESOPs Amidst Market Speculation

In response to recent speculations regarding a block deal involving Employee Stock Ownership Plans (ESOPs), Honasa Consumer, has firmly clarified that no such transaction is in progress. This statement contradicts an earlier report by CNBC-Awaaz on November 27, which had suggested that employees of Honasa were considering selling shares worth Rs 150 crore in a block deal during the week.

The reported block deal was anticipated to transpire at a 5-7 percent discount to the market price of Rs 477.10. The ESOP pool in question was said to consist of approximately 31 lakh shares, and Kotak was purported to be the broker facilitating the deal. However, Honasa Consumer Care refuted these claims in an email, asserting, “There is no block deal that’s happening on ESOPs.”

Since its initial public offering, shares of Honasa Consumer have experienced a notable surge, climbing over 47 percent from the issue price of Rs 324. On November 24, the stock witnessed a 12 percent increase in closing value on the NSE. As per the prospectus, company issued stock options under two schemes – ESOP 2018 and ESOP 2021.

Despite the market buzz and reported developments, Honasa Consumer official stance serves to quell concerns and uncertainties surrounding the alleged block deal involving ESOPs. Investors and stakeholders will likely monitor the situation closely for any further updates or developments in this matter.

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