Honasa Consumer Limited — JV/Acquisition, 23-06-2026: Acquisition

Honasa Consumer (Mamaearth parent) is making a strategic entry into the fast-growing nutraceuticals market! It's acquiring a 58% stake in Fluence Pharma, known for its patented hair & skin supplements, for an enterprise value of ~₹135 Cr. This move significantly strengthens Honasa's portfolio with science-led, doctor-trusted solutions. Fluence Pharma posted ~₹40 Cr provisional revenue for FY26. Honasa will also establish 'Honasa Health', a new subsidiary, to build a direct-to-consumer nutraceuticals franchise, targeting a ₹500 Cr business and expanding its "inside-out" beauty strategy.