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Mamaearth parent company’s shares up 10% despite troubles
Shares of Honasa Consumer, the parent company of Mamaearth, rose 10% to 287.85 rupees (US$3.4) during intraday trading on Wednesday.
The increase followed CEO Varun Alagh’s decision to boost his stake in the company from 31.88% to 31.93% through an investment of 4.5 crore rupees (US$5.3 million).
This development occurs amid financial challenges for Honasa Consumer.
The company’s stock has declined over 32% this year, while it reported a consolidated net loss of 18.6 crore rupees (US$21.9 million) for the second quarter of FY25.
Recent Honasa developments
| Timeline |
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20-Nov-2023 📈 Mamaearth parent stock jumps 12% ahead of first quarterly report after IPO
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10-Nov-2023 📉 In 50 Words: Mamaearth parent’s shares fall 21% below IPO price
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07-Nov-2023 📈 Mamaearth parent makes quiet debut as shares stay level
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02-Nov-2023 🌟 In 50 Words: Mamaearth IPO fully subscribed with strong institutional push
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25-Oct-2023 📈 In 50 Words: Mamaearth to launch IPO worth $204.5m
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