# Honasa calls off ₹135 Cr Fluence Pharma acquisition deal 2026-08-26T09:31:26+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet Honasa Consumer, the parent company of Mamaearth, has called off its proposed ₹135 crore acquisition of a 58% stake in nutraceuticals startup Fluence Pharma. The company cited non-fulfilment of closing conditions under the share purchase agreement in an exchange filing, without specifying which conditions were not met. Honasa's board had approved the acquisition in June, with plans to buy the remaining 42% in two tranches over five to seven years. Despite the deal falling through, Honasa said it remains committed to its nutraceuticals strategy. The company views it as the next growth frontier, estimating an addressable market of around ₹16,000 crore. Honasa had incorporated a wholly owned subsidiary, Honasa Health, to manage the B2C operations of this vertical. The dropped acquisition was part of the company's five-year 'Honasa 3.0' plan to more than double revenue to over ₹5,500 crore by FY31. ## Indian Opinion Analysis Honasa's abandoned deal highlights the challenge of diversifying beyond its flagship Mamaearth brand, which still drives most of its revenue. The company had already set up Honasa Health as a subsidiary to enter the fast-growing nutraceuticals space, where established players like Nestlé India and Dabur already compete through their own health-focused products. With the Fluence Pharma route closed, Honasa must now decide whether to pursue another acquisition or build its own formulations from scratch, a slower but less risky option. The company's stated target of reaching ₹5,500 Cr in revenue by FY31 relies heavily on creating these new growth engines, making the nutraceuticals strategy a critical piece of that plan. Investors will watch for any new deal announcement in the coming quarters, as Honasa's next move in this category will signal how aggressively it plans to pursue or replace the abandoned acquisition. ## Coverage - inc42.com Neutral report of deal collapse without added commentary This brief was synthesised by AI from the source linked above. Tags: Fluence Pharma, Honasa Consumer, Honasa Health, Mamaearth Canonical: https://indianopinion.org/honasa-calls-off-rs135-cr-fluence-pharma-acquisition-deal/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/honasa-calls-off-rs135-cr-fluence-pharma-acquisition-deal/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes. How this brief was made: an AI model read the report linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/