mamaearth has secured a favorable rectification order in its arbitration proceedings against RSMM General Trading LLC, increasing the total monetary award to AED 9,918,514. The Arbitral Tribunal, via an order dated June 26, 2026, allowed the company's application under Section 33 of the Arbitration and Conciliation Act, 1996, to correct computational and clerical errors in the initial award passed on May 14, 2026. This development significantly enhances the financial relief granted to the company following breaches of the Authorized Distributor Agreement by RSMM.

The rectification order resulted in key adjustments to the awarded amounts. The damages for loss of profits were revised upward from AED 4.34 million to AED 7.32 million due to a computational error where the tribunal had inadvertently referred to figures for FY 2020-21 instead of FY 2021-22. Additionally, the costs awarded for substitution were corrected from AED 1,060,584 to AED 744,758 to align with the company's Statement of Claim. The tribunal also included a dispositive direction protecting the company against related court proceedings in Dubai.

Final Amended Award Details

Pursuant to the Section 33 Order, the final amended directives against RSMM include a total monetary payout of AED 9,918,514, approximately INR 25,53,55,217.67. The tribunal directed that post-award interest will apply if the amount remains unpaid for more than 30 days. RSMM is also liable to pay the company damages equivalent to any financial recoveries made against it in related Dubai court proceedings, including the judgment dated February 11, 2026, or any appeals arising from it.

The breakdown of the awarded amounts includes AED 1,559,848 for costs incurred by the company for proceedings in Dubai and allied proceedings in India, and AED 744,758 towards costs of substitution. The award also comprises INR 76,50,875 towards the costs of arbitration proceedings. The interest penalty is set at EIBOR + 2% per annum on the AED components and at the SBI Prime Lending Rate (PLR) + 2% per annum on the INR component, calculated from 30 days after the pronouncement of the award until payment.

The tribunal further issued a permanent prohibitory injunction restraining RSMM from initiating or continuing any proceedings before courts in Dubai or any other forum that breach the dispute resolution and exclusive jurisdiction clauses of the Authorized Distributor Agreement. The order confirms that proceedings initiated in Dubai by RSMM are in breach of the arbitration agreement and the governing law clause.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0J5401028/03928f83164c4f40.pdf

Honasa Consumer Limited has approved the acquisition of a 58% equity stake in Fluence Pharma Private Limited for an enterprise value of approximately ₹135 crore, marking its strategic entry into the nutraceuticals sector. The Board of Directors approved the transaction on June 23, 2026, facilitating the company's expansion into science-backed, "inside-out" beauty solutions through a secondary share purchase. The acquisition is subject to closing adjustments and the completion of conditions precedent, with the deal expected to close over the next eight weeks.

About Fluence Pharma

Fluence Pharma, incorporated on March 5, 2012, and headquartered in Mumbai, Maharashtra, offers condition-specific over-the-counter supplements under the brands Hair Fact, Skin Fact, and Pro Fact. The company utilizes a patented Cyclical Nutrition Therapy and distributes its products exclusively through a network of over 3,000 dermatologists. Hair-focused solutions contribute more than 70% of its revenue. The company reported an approximate revenue of ₹40 crore and a 20%+ EBITDA margin in FY26.

Key Financials of Fluence Pharma

Fluence Pharma has demonstrated consistent revenue growth across recent financial years, as detailed below:

Deal Structure and Valuation

The acquisition strategy includes a call option to acquire the remaining 42% equity stake in Fluence Pharma, to be executed in two tranches over the next 5-7 years following the completion of the initial acquisition. The transaction implies an enterprise value-to-FY26 revenue multiple of approximately 3.4x and an enterprise value-to-FY26 EBITDA multiple of approximately 15x, based on provisional numbers.

Honasa Health Private Limited

Concurrent with the acquisition, Honasa Consumer approved the incorporation of a wholly owned subsidiary named Honasa Health Private Limited. This new entity will undertake business-to-consumer operations for the nutraceuticals business and 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.

Strategic Rationale

The expansion into nutraceuticals is intended to strengthen Honasa's portfolio with a science-led brand. The strategic move targets India's rapidly growing nutraceuticals market, which is currently valued at over ₹16,000 crore.