New Delhi, Dec. 12 -- Shares of Honasa Consumer, the parent company of Mamaearth, surged nearly 5% in early trade on Friday, December 12, to the day's high of Rs.269 on NSE as investors reacted positively to the company's entry into the men's personal care category with the acquisition of Reginald Men.

The company, which owns FMCG brands such as Mamaearth and The Derma Co, on Thursday, post market hours, announced (December 11) that it will acquire a 95% stake in BTM Ventures Pvt Ltd, the parent company behind the men's personal care brand Reginald Men, via a secondary purchase at an enterprise value of Rs.195 crore.

The company said the remaining 5% stake will be acquired after 12 months based on pre-agreed valuation criteria.

Reginal...