Honasa Consumer acquires 95% stake in BTM Ventures (Reginald Men) for INR 195 Cr

Listed Co AcquisitionStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+2.5%Reaction day

₹255.00

prior close

₹260.00

announcement price

After-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)+0.8%+1.7% vs market

Personal Care peers, median of 13sector-0.4%+2.9% vs sector

On the reaction day the stock moved 1.7 pts more than Nifty Smallcap 250 and 2.9 pts more than its Personal Care peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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15m

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Sessions after the filingfrom the prior close

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Reaction day

+2.5+0.8+1.7-0.4+2.9

Next day

+0.0+1.2-1.2-0.4+0.4

+1.9+0.4+1.5+0.3+1.6

+0.8-0.3+1.1-0.8+1.6

+1.1-0.4+1.6-1.8+3.0

+6.0+0.9+5.1-1.7+7.7

+6.5+2.3+4.2-1.9+8.4

15d

+14.5+3.6+11.0-1.4+15.9

+12.9-1.0+13.9-1.8+14.7

+17.2-0.1+17.3+2.8+14.4

+9.5-6.1+15.6-8.5+18.0

UpDownMarket · Nifty Smallcap 250Sector · Personal Care peers, median of 13Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Honasa Consumer is entering men's personal care by acquiring 95% stake in BTM Ventures, which owns the Reginald Men brand. Deal valued at INR 195 Cr enterprise value at 2.6x revenue and 10.9x EBITDA. Remaining 5% to be acquired after 12 months. Reginald Men had TTM revenue of INR 74 Cr and EBITDA of INR 18 Cr (24% margin). The brand, launched Aug 2022, is strong in sunscreens with 80% plus sales from South India and is the number one men's sunscreen brand on Google. Target market estimated at INR 40K Cr plus by 2032.

Likely market impact

Strategic entry into fast-growing men's personal care segment; adds a premium brand with proven traction and strong unit economics to Honasa's portfolio.