Honasa Consumer Limited, the parent company of popular skincare brand Mamaearth, has approved a new round of employee stock option grants under its existing equity incentive scheme. According to a regulatory filing, the company’s Nomination and Remuneration Committee (NRC) approved the allotment of 53,322 stock options on June 18 via a circular resolution.
The stock options, issued under the Honasa Consumer Limited Employee Stock Option Plan – 2018 (ESOP-2018), are each convertible into one equity share with a face value of ₹10. The exercise price has also been set at ₹10 per share, indicating that the options have been granted at par value.
The company confirmed that the grants comply with SEBI’s Share Based Employee Benefits (SBEB) regulations. If fully vested and exercised, the grant would lead to the issuance of 53,322 equity shares to eligible employees.
At the stock’s closing price of ₹304.90 on the National Stock Exchange, the grant is estimated to be worth approximately ₹1.6 crore. Honasa’s shares opened at ₹308 on Thursday.
The NRC considers multiple factors such as individual roles, performance, and business goals while administering ESOPs. According to the plan’s provisions, the options will vest over time and can be exercised during employment or within 90 days of an employee’s departure. As the grant is newly issued, no options have yet vested, lapsed, or been exercised.
This move follows a similar round in April when Honasa granted 24.16 lakh stock options, and another allocation of 45,663 options in January.
The development also comes shortly after the appointment of Yatish Bhargava as Chief Business Officer, following the departure of Zairus Master from the same role in February.
Co-founded by Varun and Ghazal Alagh, Honasa Consumer also owns brands such as The Derma Co, Aqualogica, BBlunt, and Dr Sheth’s. The company continues to expand both its product range and team as part of its omnichannel growth strategy.
