Stake sale · Commerce & Consumer Brands

Sofina sells 1.28% stake in Honasa Consumer

By Startup Enthusiast · 25 June 2026

What they do

Honasa owns brands like Mamaearth, The Derma Co, and Aqualogica

Sofina Ventures sold 41.78 lakh shares worth ₹177.2 Cr via bulk deal

The sale comes as Honasa acquires Fluence Pharma and targets ₹5,500 Cr revenue by FY31

Sofina Ventures sold 41.78 lakh shares of Honasa Consumer via a bulk deal on the NSE on 25 June 2026.
The deal was valued at approximately ₹177.2 Crore.
Shares were sold at ₹424.07 per share, about 1.5% higher than the BSE closing price of ₹417.7.
The stake sold was 1.28% of Honasa's total equity.
Before the sale, Sofina held 3.29% (as of March 2026); after the sale, its stake is estimated at ~2%.
The buyers were not identified from exchange disclosures.
Sofina first invested in Honasa by leading a $50 million funding round in 2021 and partially exited during Honasa's IPO in November 2023 and via block deals in June 2024.

Sofina's sale is part of a pattern of VC/PE stake sales in listed Indian startups, including Actis in Pine Labs (₹371 Cr), Alpha Wave in Delhivery, and SoftBank and ADIA in Lenskart.
Sofina recently co-led FirstClub's $55 million Series B and backed IPO-bound D2C brand The Whole Truth in 2026.
Honasa shares have gained ~42% year-to-date as of 25 June 2026, with a 52-week high of ₹437.90 earlier in June 2026.

Honasa Consumer is a digital-first house of brands in beauty and personal care, headquartered in Gurugram.
Its brand portfolio includes Mamaearth, The Derma Co, Aqualogica, Lumineve, Staze, BBlunt, Dr Sheth's, and Reginald Men.
The company has an omni-channel presence across 750+ districts in India.
Honasa recently launched a night-focused skincare brand Luminéve on Nykaa.
It acquired Reginald Men (men's grooming) six months before the Fluence Pharma acquisition.
In the week of 25 June 2026, Honasa acquired a 58% stake in Fluence Pharma (nutraceuticals) for ₹135 Crore, marking its entry into the nutrition and supplements segment.

Honasa aims to double revenue to >₹5,500 Crore by FY31 under its Honasa 3.0 strategy.
It plans to expand EBITDA margins beyond 15%.
The Fluence Pharma acquisition marks Honasa's entry into the nutrition and supplements segment.

Sofina Ventures S.A. (seller) — Belgium-based investment firm that first invested in Honasa in 2021.