Honasa Consumer Acquires Majority Stake in Fluence Pharma for Rs 135 Crore
Honasa Consumer is the company that makes Mamaearth. It has bought a big part of another company called Fluence Pharma. A “stake” just means owning a piece of a company. Honasa paid Rs 135 crore for this.
With this deal, Honasa enters the health supplements business for the first time. A report by Inc42 says Honasa is buying 58% of Fluence Pharma now. It plans to buy the rest later.
This is a big change for Honasa. Until now, it was known mostly for beauty and skin care. Now it wants to grow in nutraceuticals. Nutraceuticals are health products like vitamins and supplements. They sit between food and medicine.
What exactly did Honasa buy?
Honasa is buying 58% of Fluence Pharma for Rs 135 crore. Owning more than half means you are in charge. So Honasa now controls the company. The deal should be done within eight weeks.
Honasa will not stop there. It plans to buy the other 42% over the next five to seven years. It will do this through “secondary transactions”. That means buying shares from the current owners later, step by step.
So over time, Honasa could own all of Fluence Pharma. To run this new health work, Honasa is making a new company called “Honasa Health”. A company owned by a bigger company is called a subsidiary. This new one starts with only Rs 1 lakh of paid-up capital. Paid-up capital is the money the owners put in to begin.
Who is Fluence Pharma?
Fluence Pharma started in 2012. It was set up by Amit Bhusari and Dr Rajendra Singh Rajput. The company makes supplements for skin and hair health.
Inc42 says it sells through more than 3,000 doctors. These are dermatologists, who are skin doctors, and trichologists, who are hair and scalp experts. So real doctors recommend its products.
Its products are OTC supplement kits for certain problems. OTC means “over the counter”. So you can buy them without a doctor’s note. The kits use a special method the company calls Cyclical Nutrition Therapy (CNT). This method has a patent. A patent means it is protected by law, so other companies cannot just copy it.
In FY25, Fluence Pharma made sales of Rs 37.2 crore. FY25 means the financial year that ended in March 2025. These total sales are called turnover. This was about 3% more than the year before.
Key facts about the Honasa–Fluence Pharma deal
| Item | Detail |
|---|---|
| Buyer | Honasa Consumer (maker of Mamaearth) |
| Target | Fluence Pharma (skin and hair supplements) |
| Stake bought now | 58% |
| Deal value | Rs 135 crore |
| Remaining stake | 42%, to be bought over 5–7 years |
| Deal close timeline | Within 8 weeks |
| New subsidiary | Honasa Health (Rs 1 lakh paid-up capital) |
| Fluence FY25 turnover | Rs 37.2 crore (up ~3% YoY) |
| Fluence founded | 2012, by Amit Bhusari and Dr Rajendra Singh Rajput |
Why is Honasa moving into health supplements?
Honasa wants a new way to grow. Honasa CEO Varun Alagh said nutraceuticals are “the next phase of growth in beauty and personal care”. In simple words, he thinks health supplements are the natural next step after beauty products.
The chance here is huge. Inc42 says India’s nutraceuticals market is worth about Rs 16,000 crore. Fluence Pharma’s sales are still small next to that. So there is lots of room to grow.
This deal is part of a bigger plan called “Honasa 3.0”. It is a five-year plan to reach Rs 5,500 crore in revenue by FY31. Revenue means the money a company brings in. Buying Fluence gives Honasa a quick start in a new area. It also brings a trusted group of doctors who already suggest the products.
How strong is Honasa right now?
Honasa already owns many well-known brands. These include Mamaearth, its main brand, plus The Derma Co., Dr. Sheth’s, BBlunt, Reginald Men, and Fang, which makes oral care. Being strong in beauty gives it the money and the courage to try a new field.
The numbers show its strength. In FY26, Honasa made a net profit of Rs 200.2 crore. That was up a big 175.4% from the year before. Net profit is the money left after all costs are paid. Its operating revenue rose 15.7% to Rs 2,391.9 crore.
Investors stayed calm about the news. On the day of the news, Honasa shares closed 1.14% higher at Rs 419.8. This was on the BSE, the Bombay Stock Exchange, where company shares are bought and sold.
Why it matters (especially for India and founders)
This deal shows how new Indian brands are buying their way into new markets. Honasa did not build a supplements business from zero. Instead, it bought one that already has products, patents, and doctor ties. For founders, the lesson is clear. A smart purchase can save years of slow work.
It also shows that India’s health and wellness boom is real money, not just a fad. More Indians are spending on supplements. So big consumer companies want a share. India is also getting stronger in many home-grown industries. This is much like its push to build India’s defence manufacturing clusters. The idea is the same: invest early, own the supply, and grow at home.
For Fluence Pharma’s founders, the deal brings cash and a strong partner. They now have the support of a big listed company. This is like how strong demand can reward founders elsewhere. One example is the heavy investor interest in the Turtlemint IPO oversubscription. In both cases, big players are betting on India’s growth.
FAQ
How much did Honasa pay for Fluence Pharma?
Honasa Consumer is paying Rs 135 crore for a 58% majority stake in Fluence Pharma. It plans to buy the other 42% over the next five to seven years.
What does Fluence Pharma make?
Fluence Pharma makes over-the-counter supplements for skin and hair health. It sells through more than 3,000 dermatologists and trichologists. It uses a patented method called Cyclical Nutrition Therapy.
Why is Honasa entering the supplements business?
Honasa sees nutraceuticals as its next growth engine. India’s nutraceuticals market is worth about Rs 16,000 crore. The deal fits its “Honasa 3.0” plan to cross Rs 5,500 crore in revenue by FY31.
Did Honasa’s share price react?
Yes, but only a little. Honasa shares closed 1.14% higher at Rs 419.8 on the BSE on the day of the news.
The takeaway
Honasa Consumer bought a majority stake in Fluence Pharma for Rs 135 crore. This is a clear bet on health supplements as its next big growth story. In one move, it gains products, patents, and a doctor network. At the same time, it keeps its main beauty business strong. If India’s wellness boom keeps growing, this small deal today could become a big business tomorrow.
