Stellaris Ventures Offloads 1% Stake in Honasa Consumer, Mamaearth's Parent Company, in INR 141 Crore Bulk Deal

Homegrown venture capital firm Stellaris Venture Partners has sold 1% stake in Honasa Consumer Limited, the parent company of Mamaearth, through an open market transaction, with the deal valued at INR 140.61 Crore.


According to data from the National Stock Exchange (NSE), the VC firm, represented by its affiliate Stellaris Venture Partners India I, sold 32,17,468 shares of Honasa Consumer Limited at an average price of INR 437.04 per share, resulting in a transaction value of INR 140.61 Crore.


This recent transaction has reduced Stellaris Venture Partners’ shareholding in Honasa Consumer to 4.78%, down from its previous stake of 5.78%. Since its establishment in 2017, Stellaris has supported various industry leaders, including Mamaearth, Whatfix, Propelld, Ayu Health, Turno, Rigi, and others.


In August 2021, Stellaris Venture Partners closed its second fund at $225 million. Mamaearth, a Gurugram-based startup specializing in mother and baby care, secured $4 million (INR 27.5 Crore) in a Series A funding round led by Stellaris Ventures in September 2018.


Founded in 2016 by Varun and Ghazal Alagh, Honasa Consumer Limited operates brands such as Mamaearth, The Derma Co., Aqualogica, and Ayuga. The company also holds stakes in BBlunt and Dr. Sheths.


Having achieved unicorn status in December 2022, Honasa raised $52 million at a valuation of $1.2 billion in a funding round led by VC firm Peak XV (formerly Sequoia Capital). Subsequently, it was listed on public markets on November 7, 2023.


In the September quarter (Q2) of the financial year 2023-24 (FY24), Honasa Consumer Limited reported a profit after tax (PAT) of INR 29.4 Crore, marking a substantial 94% increase from the INR 15.2 Crore recorded in the corresponding period of the previous year. For H1 FY24, the company achieved INR 960.6 Crore in sales revenue, compared to INR 1,492.7 Crore in FY23.


On January 9, 2024, Mamaearth shares opened trading on the Bombay Stock Exchange (BSE) at INR 488.45, reflecting a 3.03% increase.