ICICI Prudential Life Insurance has raised its stake in Honasa, the parent company of Mamaearth, to 5.48% after acquiring 46.91 lakh additional shares. Before this, ICICI Prudential held a 4.03% stake. The increase followed the sale of Honasa shares worth ₹1,601.68 crore by investors like Peak XV Partners and Fireside Ventures. ICICI Prudential bought shares for ₹142.49 crore, and Morgan Stanley also made significant purchases. Honasa's strong financial performance, including a 62.9% profit jump in Q1 FY25, has fueled positive market sentiment. Honasa shares hit a new high of ₹546.5 recently.