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Varun Alagh Acquires Over 1.6 Lakh Shares in Mamaearth Since IPO

• ByStartupStory     |    December 4, 2024

Varun Alagh, the Co-founder and Chief Executive Officer of Honasa Consumer Limited, the parent company of Mamaearth, has increased his stake in the company by acquiring over 160,000 shares. This acquisition, reflecting his continued confidence in the company’s long-term growth prospects, comes as Honasa seeks to expand its market presence, despite challenges faced by the company in recent months.

As of September 30, Varun Alagh held 10.355 crore equity shares of Mamaearth. However, a recent document accessed by Entrackr revealed that his shareholding has increased to 10.371 crore shares. The additional shares acquired by Alagh are valued at approximately Rs 4.26 crore, bringing his total holdings to a current worth of Rs 2,722 crore (approximately $324 million) as of December 3.

According to Fintrackr analysis, Mamaearth’s stock, trading at Rs 262.45 as of December 3, is currently valued at a market capitalization of Rs 8,525 crore ($1 billion). The stock has seen considerable volatility in recent months, with a 52-week high of Rs 547 in September and a low of Rs 222.5 in November.

Despite the fluctuating stock price, Alagh’s acquisition signals his commitment to Mamaearth’s future, positioning him as a key figure in the company’s growth trajectory. However, the company has faced challenges in the form of revenue decline in the second quarter of the current fiscal year. Mamaearth reported a 9.3% drop in revenue to Rs 417 crore, compared to Rs 460 crore in Q2 FY24.

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