Honasa Consumer Ltd

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.

This acquisition gives Honasa a quick entry into the fast-growing men’s skincare market and boosts its presence in South India, where Reginald Men earns most of its revenue.

Mamaearth’s parent company, based in Gurugram, saw its revenue grow by 13%, but its profit dropped 17% in the March 2025 quarter.

Karan and Avinash have been key members of Honasa for over four years, playing crucial roles in shaping the company's culture and operations. Their efforts have been vital in helping Honasa become one of the youngest companies in India to go public.

According to a regulatory filing, CEO and whole-time director Varun Alagh will take over the CMO role temporarily.

Zairus Master, Chief Business Officer at Honasa Consumer Ltd, has resigned from the parent company of Mamaearth, effective February 28, citing personal reasons. This marks at least the second top-level exit in recent months.

Mamaearth's parent company, Honasa Consumer Ltd., launched its shares on the BSE on Tuesday at ₹330, 1.85% over the issue price of ₹324. The company's ₹1,701-crore initial public offering (IPO), which ended on November 2, was subscribed 7.61 times over, showing significant investor interest.