Honasa Consumer surges on getting nod for asset purchase agreement with Cosmogenesis Cosmetics
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Honasa Consumer is currently trading at Rs. 430.40, up by 12.30 points or 2.94% from its previous closing of Rs. 418.10 on the BSE.
The scrip opened at Rs. 444.85 and has touched a high and low of Rs. 447.70 and Rs. 426.75 respectively. So far 76557 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 510.75 on 23-Jan-2024 and a 52 week low of Rs. 256.10 on 10-Nov-2023.
Last one week high and low of the scrip stood at Rs. 447.70 and Rs. 403.15 respectively. The current market cap of the company is Rs. 13940.88 crore.
The promoters holding in the company stood at 35.07%, while Institutions and Non-Institutions held 28.12% and 36.81% respectively.
Honasa Consumer has received the Board’s approval for asset purchase agreement with Cosmogenesis Cosmetics, a sole proprietorship, based out of Thane, Maharashtra to purchase identified assets and intellectual properties as part of this agreement which will benefit the company in expanding the R&D and manufacturing capabilities.
The objective of the acquitting assets is expanding its R&D capabilities by acquiring over 4,000+ formulations in Beauty and Personal Care Category. The company would be acquiring formulations expertise, research & development lab along with a small manufacturing facility. The total cash consideration to be paid post-closing, for the identified assets is Rs 4 crore.
Honasa Consumer, doing business as Mamaearth, provides e-commerce services. The company offers baby, skin, body, and hair care products, as well as mosquito protection roll on and creams.
