Varun Alagh purchases over 1.6 lakh shares of Mamearth since IPO

Varun Alagh, Co-founder and Chief Executive Officer of Honasa Consumer Limited, the parent company of Mamaearth, has acquired over 160,000 shares in the company. 

This acquisition demonstrates his confidence in the company’s growth prospects and aligns with Honasa's efforts to expand its market presence, despite the recent erosion of its market capitalization

As of September 30, Varun Alagh held 10.355 crore equity shares of Mamaearth. However, a recent document accessed by Entrackr showed that his shareholding has increased to 10.371 crore shares.

According to Fintrackr analysis, the additional shares acquired by Alagh are worth Rs 4.26 crore, while his total shares are valued at Rs 2,722 crore (approximately $324 million) as of today — December 3.

As of December 3, Mamaearth's stock is trading at Rs 262.45, with a market capitalization of Rs 8,525 crore ($1 billion). Over the past three months, the stock has experienced significant volatility, reaching a 52-week high of Rs 547 in September and a 52-week low of Rs 222.5 in November.

During the second quarter of the current fiscal year, the Gurugram-based company reported a 9.3% decline in its revenue to Rs 417 crore, compared to Rs 460 crore recorded in Q2 FY24.