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Honasa founder Varun Alagh buys 0.57% stake in Rs 50-crore block deal
Following the purchase, Alagh’s shareholding rose to 32.45%. The combined holding of the promoter and promoter group increased to 35.54% of the company’s total equity.
Varun Alagh, Co-Founder of Honasa Consumer Private Limited
Varun Alagh, a co-founder and promoter of Honasa Consumer, the personal care company behind brands such as Mamaearth, The Derma Co and Aqualogica, increased his stake in the company on Monday, signalling renewed promoter confidence as the firm sharpens its focus on profitability and brand-building.
Alagh acquired 1.85 million shares, or about 0.57% of Honasa’s equity, through a block deal at Rs 270 a share, according to a regulatory filing. The transaction was valued at roughly Rs 50 crore.
Following the purchase, Alagh’s shareholding rose to 32.45%. The combined holding of the promoter and promoter group increased to 35.54% of the company’s total equity.
The stake increase comes weeks after Honasa expanded its portfolio through acquisitions, buying a 95 percent stake in BTM Ventures, the parent company of men’s grooming brand Reginald Men, in a deal valued at Rs 195 crore. The company also completed the purchase of a 25 percent stake in Couch Commerce, which owns oral care brand Fang.
Honasa’s recent financial performance has shown signs of stabilisation. The company reported a profit of Rs 39.23 crore for the July–September quarter, reversing a loss of Rs 18.57 crore in the same period last year. Revenue rose 16.5 percent year-on-year to Rs 538.1 crore, while earnings before interest, tax, depreciation and amortisation increased 8.4% to Rs 48 crore.
Alagh has said the company draws inspiration from global beauty companies such as L’Oréal and Estée Lauder as it builds a portfolio of consumer brands. He has described Honasa’s strategy as one focused on identifying unmet consumer needs, or “white spaces”, through a multi-dimensional approach, supported by an internal innovation engine known as the Brand Factory.
When internal development is not sufficient, the company looks to minority investments or acquisitions, Alagh has said, working alongside founders to scale brands over time-- a strategy that has increasingly defined Honasa’s expansion in a crowded and competitive beauty market.
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