Varun Alagh Increases Stake in Mamaearth

Mamaearth’s co-founder and promoter, Varun Alagh, has raised his equity holding in the company through a significant block deal on December 29, 2025. According to the exchange filing by Honasa, Alagh acquired 18,51,851 equity shares, equating to 0.57% of the overall share capital, at a price of Rs 270 per share. This transaction’s total value approximates Rs 50 crore. Following this acquisition, his overall shareholding increased to 10.56 crore shares, which corresponds to 32.45% of Honasa’s equity. The filing also indicated that the total shareholding of the promoter and promoter group has risen to 35.54%, translating into 11.56 crore shares.

Strategic Moves in the Market

This development comes shortly after Honasa’s strategic foray into the men’s grooming sector with its purchase of Reginald Men, a company focused on South India. The firm acquired a 95% stake in BTM Ventures Pvt Ltd, the parent company of Reginald Men, through a secondary transaction valued at Rs 195 crore.

Financial Growth Indicators

In terms of financial performance, Mamaearth reported a 16.5% increase in revenue, reaching Rs 538 crore in Q2 FY26, compared to Rs 462 crore in Q2 FY25. The Gurugram-based company also reported a profit after tax of Rs 39 crore in Q2 FY26, up from a loss of Rs 18.56 crore in the same quarter of the previous fiscal year. In addition, during the quarter ending September 2025, Mamaearth acquired a 25% stake in Couch Commerce Private Limited, which owns the brand “Fang Oral Care,” for a total consideration of up to Rs 10 crores.

Current Market Position

The shares of Mamaearth’s parent company are currently trading at Rs 275 per share (as of 15:25 PM), giving it a total market capitalization of Rs 8,955 crore ($1 billion). In 2025, numerous founders increased their stakes in their respective companies, primarily ahead of IPOs. However, Mamaearth stands out as a unique instance where a founder boosted his holding post-listing in recent times. While Lenskart and Meesho are now publicly traded, their founders made these transactions prior to their IPOs, in contrast to the actions observed at InMobi, Zetwerk, and Amagi, where founders have raised their stakes while preparing for public offerings.