Infosys announced an expanded multi-year collaboration with Nasdaq-listed GlobalFoundries, a leading semiconductor manufacturer, to deliver AI-led managed services across GF's enterprise IT landscape. Meanwhile, Honasa Consumer has secured a 58% majority stake in Fluence Pharma, a Mumbai-based hair therapy brand, for ₹135 crore, marking the company's strategic entry into the nutraceuticals sector. According to reports, the beauty and personal care company's strategic acquisition will strengthen its presence in the nutraceuticals market and Fluence Pharma will become the ninth brand under Honasa's umbrella. The acquisition aims to leverage Fluence's patented technology and dermatologist network to expand Honasa's 'inside-out' beauty solutions.
The Government of India is set to sell a 2 percent stake in Indian Railway Finance Corporation (IRFC), including a greenshoe option of an additional 1 percent stake, via offer-for-sale on June 24-25. As reported, the floor price has been fixed at ₹91 per share for this significant divestment in the railway finance company.
Founded by Amit Bhusari and dermatologist Dr Rajendra Singh Rajput, Fluence Pharma develops over-the-counter nutritional supplements targeting hair and skin conditions through its patented Cyclical Nutrition Therapy (CNT) platform. The company has built a network of more than 3,000 practicing dermatologists across India and has earned credibility through over a decade of clinical usage. Fluence reported revenue of around ₹40 crore in FY26 and an EBITDA margin of more than 20%. The acquisition includes a call option to acquire the remaining 42% equity stake in two tranches over the next 5-7 years, with the transaction implying an enterprise value-to-FY26 revenue multiple of approximately 3.4x and an enterprise value-to-FY26 EBITDA multiple of approximately 15x. The deal is expected to close over the next eight weeks.
Concurrent with the acquisition, Honasa Consumer approved the incorporation of a wholly owned subsidiary named Honasa Health Private Limited to manage B2C operations for the nutraceuticals business. This new entity will be incorporated with an initial paid-up capital of ₹1,00,000, divided into 10,000 equity shares with a face value of ₹10 each. Dheeraj Nagpal, CEO of Honasa Health, will spearhead the subsidiary, bringing over 15 years of consumer business experience. The expansion into nutraceuticals is intended to strengthen Honasa's portfolio with science-led brands and targets India's rapidly growing nutraceuticals market, which is currently valued at over ₹16,000 crore.
Honasa Consumer reported robust financial results with operating revenues climbing 16% to ₹601 crore in the December quarter, while net profit surged to ₹50 crore. The company expects steady March-quarter growth, though reported revenue may appear lower due to changes in revenue recognition in relation to Flipkart. Honasa is optimistic about achieving high-teen percentage revenue growth in the upcoming fiscal year, driven by a robust resurgence of its beloved Mamaearth brand and strategic acquisitions in innovative product lines.
