Varun Alagh Increases Stake in Mamaearth with ₹4.26 Crore Share Acquisition

Varun Alagh, Co founder and CEO of Honasa Consumer Limited the parent company of Mamaearth has acquired over 160,000 additional shares in the company. 

This move underscores his confidence in Mamaearth’s growth potential and aligns with the company's efforts to strengthen its market position, despite recent challenges in its market capitalization.  

As of September 30, Alagh held 10.355 crore equity shares in Mamaearth. However, a recent report reveals that his stake has risen to 10.371 crore shares. According to an analysis, the newly acquired shares are valued at ₹4.26 crore, bringing the total value of his holdings to ₹2,722 crore (approximately $324 million) as of December 3.  

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On December 3, Mamaearth's stock was trading at ₹262.45, with a market capitalization of ₹8,525 crore ($1 billion). The stock has seen considerable volatility over the past three months, peaking at ₹547 in September before hitting a 52-week low of ₹222.5 in November.  

In the second quarter of the current fiscal year, the Gurugram-based company reported a 9.3% dip in revenue, recording ₹417 crore compared to ₹460 crore in Q2 FY24.  

About Mamaearth - 

Mamaearth, a brand under Honasa Consumer Limited, has rapidly become a household name in the Indian skincare and personal care market. Founded in 2016 by Varun Alagh and Ghazal Alagh, the company was established with a vision to provide toxin-free, natural, and sustainable personal care products catering to wide range of customers including babies, adults, and expectant mothers.

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