Honasa Consumer approves amalgamation of Fusion Cosmeceutics, Just4Kids subsidiaries

Honasa Consumer: Mamaearth parent Honasa Consumer Limited announced on Friday that its board has greenlit amalgamation of its subsidiaries, Fusion Cosmeceutics Private Limited and Just4Kids Services Private Limited, with company.

Fusion Cosmeceutics primarily specialises in formulation and tring of skincare products, while Just4Kids Services operates and maintains a multilingual content platform.

In an official filing, Honasa Consumer disclosed, " Board of Directors of Company, at its meeting held today i.e. on April 19, 2024, considered and approved scheme of amalgamation...providing for amalgamation of wholly-owned subsidiaries of Honasa Consumer Limited."

As per financials, Fusion Cosmeceutics recorded standalone revenue of Rs 76.61 crore, while Just4Kids reported revenue of Rs 4.05 crore as of December 31, 2023.

proposed scheme is contingent upon obtaining necessary statutory and regulatory approvals, including sanction of Hon'ble National Company Law Tribunal, New Delhi Bench, New Delhi, and Hon'ble National Company Law Tribunal, Chandigarh Bench, Chandigarh.

This amalgamation is expected to streamline operations for Honasa, mitigating cost duplication and fostering financial efficiencies within its holding structure.

" resultant operations are expected to be substantially cost-efficient which would result in maximising overall shareholder value and will improve competitive position of combined entity. Eliminate layered structures and reduce managerial overlap," stated filing.

(With PTI inputs.)