Honasa Consumer promoter Varun Alagh picks up ₹50 crore shares in block deal

Honasa Consumer’s cofounder and CEO, Varun Alagh, has increased his ownership in the company by buying shares worth INR 50 crore from investor Fireside Ventures through a block deal on Monday.

In the deal, 18.52 lakh shares, representing a 0.57% stake, were sold at INR 270 per share, which is about a 2.4% discount to the closing price of INR 276.75.

After the block deal, Alagh now holds 10.55 crore shares, or 32.45% of Honasa’s total equity, the company said in an exchange filing.

The total stake held by the promoter and promoter group has now increased to 11.56 crore shares, which equals 35.54% of the company’s total share capital.

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Meanwhile, Fireside Ventures Investment Fund I held 62.91 lakh shares, or a 1.93% stake in the company, at the end of the September quarter.

The VC firm has been steadily selling its shares since the company’s IPO in October 2023. Its stake has now fallen to below 1%, from around 10.5% at the time of the IPO.

The secondary deal comes as the mamaearth parent looks to reduce its dependence on its main brand. Recently, it entered the men’s personal care space by acquiring BTM Ventures, the parent company of D2C brand Reginald Men’s, for INR 195 crore.

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Earlier this year, the company also agreed to buy a 25% stake in Fang Oral Care for INR 10 crore. In the previous quarter, it also entered the premium skincare segment with the launch of its new brand, Luminve.

These investments show the company’s push to expand its brand portfolio, even as its newer brands gain more attention than MamaEarth.

Financially, Honasa reported a consolidated net profit of Rs 39.2 crore in Q2 FY26, compared to a loss of Rs 18.6 crore in the same quarter last year. Its operating revenue also rose 17% year on year to INR 538.1 crore from INR 461.8 crore in Q2 FY25.

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