Varun Alagh, Co-founder and Chief Executive Officer of Honasa Consumer, the parent company of Mamaearth, has acquired more than 160,000 additional shares, showcasing his strong belief in its growth potential. This move aligns with Honasa's strategy to expand its market presence, even as the company faces a decline in market capitalisation.
As of 30 September, Alagh held 10.355 crore equity shares of Mamaearth. However, recent documents reveal that his shareholding has now increased to 10.371 crore shares. Media analysis indicates that the additional 160,000 shares are valued at Rs 4.26 crore, bringing his total stake to Rs 2,722 crore (approximately USD 324 million) as of 3 December.
Mamaearth's stock is currently trading at Rs 262.45, with a market capitalisation of Rs 8,525 crore (USD 1 billion). The stock has seen considerable volatility in recent months, hitting a 52-week high of Rs 547 in September and a 52-week low of Rs 222.5 in November.
For Q2 FY24, the company reported a 9.3 per cent decline in revenue, dropping to Rs 417 crore from Rs 460 crore in the same quarter last year.
_20241204102600_original_image_30.webp)
_20241204101737_original_image_50.webp)
_20241204101000_original_image_19.webp)
