Foreign institutional investors, or FIIs for short, are institutional investors who make investments in assets located outside of their home country.
The two companies listed below are those in which Foreign Institutional Investors (FIIs) sold their stake worth a total of nearly Rs. 292.6 crore on the 10th and 11th of June.
AVP Infracon Limited
With a market capitalisation of Rs. 304.4 crore, the share price of one of the leading Infrastructure development companies in India slumped by 4.5 percent on NSE to hit an intraday low at Rs. 118 on Tuesday, as against its previous closing price of Rs. 123.6.
The foreign investor 3 Sigma Global Fund offloaded nearly 1.32 lakh equity shares in AVP Infracon worth Rs. 1.6 crore, at an average price of Rs. 121 per share, via open market transactions, as per the bulk deal data available on the NSE.
In terms of financials, the company’s revenue from operations grew by nearly 39.8 percent YoY from Rs. 115.5 crore in Q4 FY22-23 to Rs. 160.6 crore in Q4 FY23-24, accompanied by an increase in net profit of 55 percent YoY, from Rs. 12.15 crore in Q4 FY22-23 to Rs. 18.83 crore in Q4 FY23-24.
Established in 2009, AVP Infracon Limited provides a broad range of infrastructure services, from designing and estimation to construction management and Build-Operate-Transfer (BOT) projects.
Honasa Consumer Limited
With a market cap of Rs. 13,893.8 crore, the shares of Mamaearth’s parent company fell by 8.8 percent to Rs. 426.25 on Tuesday, after 66.2 lakh equity shares of the company exchanged hands on 11th June, bringing the total transaction value to Rs. 291 crore, at an average price of Rs. 439 per share.
Domestic investor Fireside Ventures and foreign investor Sofina Ventures were reportedly the sellers who were likely to sell up to a 2% stake in Honasa Consumer to raise nearly Rs. 273.2 crore, as reported by CNBC.
As per the latest shareholding pattern, Fireside Ventures held a 5.28 percent stake, while the foreign investor Sofina Ventures owned a 6.16 percent stake in the company.
In terms of financials, the company’s revenue from operations grew by 21.4 nearly percent YoY from Rs. 387.86 crore in Q4 FY22-23 to Rs. 471 crore in Q4 FY23-24, accompanied by an increase in net profit from a loss of Rs. 161.8 crore in Q4 FY22-23 to a profit of Rs. 30.5 crore in Q4 FY23-24.
Honasa Consumer Limited is the largest digital-first BPC company in India in terms of revenue from operations.
The company is engaged in the trading of a variety of beauty care products such as baby care, skin care, hair and other related products which are manufactured through third-party contract manufacturers under the brand name of ‘Mamaearth’, ‘The Derma Co’, ‘Bblunt’, ‘Aqualogica’ and ‘Ayuga’.
Written by Shivani Singh
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