HONASA

- Honasa Consumer shares rise 2% as firm enters men's grooming segment with Reginald Men acquisition

Honasa Consumer shares rise 2% as firm enters men's grooming segment with Reginald Men acquisition -

The shares of Honasa Consumer rose more than 2 percent on December 12 after the company announced the acquisition of BTM Ventures, the parent company of men's personal care brand Reginald Men. Honasa Consumer announced that it will acquire 95 percent equity stake in BTM Ventures via secondary purchase at an enterprise value of Rs 195 crore on a 'no-cash no-debt' basis over the next four weeks, subject to closing adjustments. The acquisition of the remaining 5 percent stake in the company will be done via secondary purchase "upon completion of 12 months from completion of acquisition of aforesaid stake in accordance with pre-agreed valuation criteria as per Share Purchase and Shareholders' Agreement", Honasa said. The shares of the company closed at Rs 261.50 apiece on Friday. Earlier during the day, the shares of the company jumped nearly 5 percent to hit an intraday high of Rs 269 apiece, before paring some gains. all this is for information. this is not a buy/sell recommendation. thank you, Technofunda24