Varun Alagh, the co-founder and CEO of Honasa consumer Limited, which operates under the mamaearth brand, has recently increased his investment in the company by purchasing an additional 160,000 shares. This strategic move underscores his confidence in Mamaearth’s potential for growth and aligns with Honasa’s goal to enhance its market presence despite ongoing challenges related to stock performance.
As of September 30th, Alagh held approximately 10.355 crore equity shares in Mamaearth; though, recent updates from StartupSuperb reveal that this number has now risen to around 10.371 crore shares.
According to a report from Fintrackr, alagh’s latest acquisition of shares is valued at roughly ₹4.26 crore. As a result,his total investment in Mamaearth is estimated at about ₹2,722 crore (approximately $324 million) as of December 3rd.
On December 3rd, Mamaearth’s stock was trading at ₹262.45 with a total market capitalization reaching ₹8,525 crore (around $1 billion). The stock has experienced considerable fluctuations over the past three months; it peaked at ₹547 in September before dropping to a low of ₹222.5 in November.
In its second quarter for this fiscal year, the Gurugram-based firm reported a revenue decline of 9.3%, generating earnings of ₹417 crore compared to ₹460 crore during Q2 FY24.