Varun Alagh increases his stake in Honasa to 32.45% via Rs 50 Cr block deal

Mamaearth’s parent Honasa Consumer’s co-founder and promoter Varun Alagh has increased his equity stake in the company through a block deal on December 29, 2025.

According to Honasa’s exchange filing, Alagh bought 18,51,851 equity shares, representing 0.57% of the company’s total share capital, at Rs 270 per share, taking the transaction value to about Rs 50 crore.

Following this acquisition, his total shareholding has risen to 10.56 crore shares, accounting for 32.45% of Honasa’s equity. The filing further added that the aggregate shareholding of the promoter and promoter group has increased to 35.54%, translating into 11.56 crore shares.

The development comes soon after Honasa’s strategic entry into the men’s grooming market with the acquisition of South India-focused Reginald Men. The company has picked up a 95% stake in BTM Ventures Pvt Ltd, the owner of Reginald Men through a secondary transaction at Rs 195 crore.

In terms of financials, Mamaearth’s revenue increased 16.5% to Rs 538 crore in Q2 FY26 from Rs 462 crore in Q2 FY25. The Gurugram-based company reported profit after tax of Rs 39 crore in Q2 FY26, as compared to a loss of Rs 18.56 crore in Q2 FY25.

During the quarter ending September 2025, the company also picked up 25% stake in Couch Commerce Private Limited which owns brand “Fang Oral Care” for a consideration of upto Rs 10 crores.

Mamaearth parent’s shares are trading at Rs 275 per share (as of 15:25 PM), with a total marketing capitalization of Rs 8,955 crore ($1 billion).

In 2025, several founders raised their stakes in their companies, but these moves largely took place before IPOs. This makes MamaEarth a rare case where a founder increased his holding after listing in recent times. While Lenskart and Meesho are now public, their founder transactions happened ahead of the IPOs, and founders at InMobi, Zetwerk, and Amagi have increased their stakes as they continue to prepare for going public.