News
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.
Also Read
-
-
Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
Follow Startup Story
