Varun Alagh Boosts Holding in Honasa Consumer, Total Stake Valued at INR 2,722 Cr This move highlights his confidence in Mamaearth's growth trajectory, despite recent challenges in market capitalisation.
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Varun Alagh, Co-founder and CEO of Honasa Consumer Limited, the parent company of Mamaearth, has bolstered his stake in the company by acquiring over 160,000 shares.
This move highlights his confidence in Mamaearth's growth trajectory, despite recent challenges in market capitalisation.
As of September 30, Alagh held 10.355 crore equity shares in Mamaearth. A recent filing accessed by Entrackr reveals his stake has now risen to 10.371 crore shares, with the additional shares valued at around INR 4.26 crore. Alagh's total holdings are now worth INR 2,722 crore (approximately USD 324 million) as of December 3.
Mamaearth's stock, trading at INR 262.45 per share, reflects a market capitalisation of INR 8,525 crore (USD 1 billion). The stock has shown significant volatility, hitting a 52-week high of INR 547 in September before plunging to a 52-week low of INR 222.5 in November.
In Q2 FY25, the Gurugram-based personal care brand reported a 9.3% revenue decline to INR 417 crore, compared to INR 460 crore in Q2 FY24. Despite the dip, Alagh's increased stake signals optimism in Honasa's strategic growth plans as the company navigates market challenges and seeks to strengthen its presence in the competitive personal care sector.
