Honasa Consumer Limited, the parent company of leading skincare brand Mamaearth, has announced a new allotment of employee stock options under its existing Equity Incentive Plan (ESOP-2018). The company’s Nomination and Remuneration Committee (NRC) approved the issue of 53,322 stock options via a circular resolution dated June 18, 2025, as per a regulatory filing made on Wednesday.
Each stock option will convert into one equity share with a face value of ₹10, and has been granted at par, aligning with the company’s employee-first equity philosophy. At the current market price of ₹304.90 on the National Stock Exchange, the total value of the grant is estimated at around ₹1.6 crore.
Aligned with SEBI SBEB Regulations
The ESOP grant falls under the purview of the SEBI (Share Based Employee Benefits) Regulations, ensuring compliance and governance transparency. According to the filing, the shares will vest as per the company’s predefined schedule, and the options can be exercised during employment or within 90 days post-resignation.
This round follows similar stock-based rewards announced earlier this year. In April, Honasa granted 24.16 lakh options, while 45,663 stock options were issued in January under the same 2018 ESOP framework.
Strategic Use of Equity to Retain Talent
The NRC determines ESOP allotments based on employees’ roles, performance, and the company’s strategic needs. These stock grants are seen as a key part of Honasa’s efforts to incentivize long-term commitment and align employees with company growth.
With this fresh issuance, none of the options have yet vested, been exercised, or lapsed.
Amid Leadership Reshuffle
The grant comes shortly after a leadership reshuffle. Yatish Bhargava was recently appointed Chief Business Officer, succeeding Zairus Master, who stepped down in February.
Founded by Varun and Ghazal Alagh, Honasa Consumer owns a growing portfolio of personal care brands including The Derma Co, Aqualogica, BBlunt, and Dr Sheth’s. The company continues to scale its omnichannel distribution and talent base, positioning itself as a frontrunner in the D2C personal care segment.