HSBC has a 'sell' call on the MamaEarth-parent (Photo: MamaEarth website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Honasa Consumer is making a decisive push into men’s personal care, noted brokerage firm HSBC. The company has agreed to buy 95% of BTM Ventures Pvt. Ltd., the parent of Reginald Men, for an enterprise value of Rs 195 crore through a secondary purchase. The remaining 5% will be picked up after a year, based on pre-set valuation terms.

The deal implies valuation multiples of 2.6 times revenue and 10.9 times Ebitda, but Honasa’s bigger bet is on the growth runway of the category itself.

However, HSBC is not assigning any additional value to the Reginald Men acquisition for now. It has cut its target price to Rs 242 (from Rs 264) and maintained its 'redu

See Full Page