Honasa Consumer Limited, known for its flagship brand Mamaearth, approved the distribution of 53,322 employee stock options (ESOPs) on June 18, as announced through a board resolution. These options fall under the Honasa Consumer Limited Employee Stock Option Plan – 2018 and carry an exercise price of ₹10 each, aligning with the share’s face value.
According to SEBI regulations on share-based employee benefits, the options will vest according to a predetermined schedule and may be exercised while still employed or within 90 days of exit. The stock has not yet vested, nor have any options been exercised or canceled, since this is a freshly approved grant.
At the current NSE trading price of around ₹304.90 per share, the total value of the ESOP grant is approximately ₹1.6 crore. This decision comes in the backdrop of an earlier, significantly larger grant of 24.16 lakh stock options in April, and a January issuance of 45,663 options—demonstrating the company’s ongoing commitment to equity-based rewards.
The Nomination and Remuneration Committee evaluated the allocation by considering individual roles, performance targets, and company objectives. This initiative coincides with strategic shifts at the Gurugram-headquartered firm, including the recent appointment of Yatish Bhargava as Chief Business Officer following Zairus Master’s exit in February.
Honasa Consumer, co-founded by Varun and Ghazal Alagh, has broadened its portfolio beyond Mamaearth to include The Derma Co, Aqualogica, BBlunt, and Dr Sheth’s. As the company scales its omnichannel strategy, it continues to leverage ESOPs to strengthen employee engagement and retention.