Shares of Honasa Consumer Ltd. dropped 2% from a day’s high of Rs 483.20 on 18th September after the company announced that its products would be available at the Canteen Stores Department (CSD) under the Ministry of Defence.

Honasa Consumer stated that the collaboration would help the company reach a wider audience and address the unique needs of consumers across the country.

The company identified a gap in the Canteen Stores Department (CSD) channel and took steps to address it by offering its products.

Varun Alagh, CEO & Co-founder of Honasa Consumer, remarked that Mamaearth’s presence in the CSD channel indicates that Honasa is aware and committed to being everywhere consumers can be found. He has noted the enthusiastic response of Mamaearth products in CSD channels – across states there have been immense demands for Mamaearth products from consumers. 

According to the company, this partnership has received positive feedback and strong consumer demand from various CSD outlets.

On 12th September, Mamaearth’s early investors, including Peak XV Partners, Fireside Ventures, Sofina, and Stellaris Venture Partners, sold a 10% stake in Honasa Consumer, the parent company of Mamaearth.

According to bulk deal data from the NSE, Peak XV Partners sold a 3.81% stake in Honasa Consumer, while Fireside Ventures sold a 2.03% stake.

At 3:30 PM, the shares of Honasa Consumer closed 2.01% lower at Rs 470.05 on NSE.

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