India, Aug. 26 -- Beauty and personal care (BPC) major Honasa Consumer has called off its proposed Rs.135 Cr acquisition of a 58% stake in nutraceuticals startup Fluence Pharma after certain closing conditions under the share purchase agreement were not fulfilled.

In an exchange filing, the Mamaearth parent said the proposed acquisition has been called off "due to non-fulfilment of closing conditions specified under (the) share purchase agreement executed by the company and Fluence Pharma".

The company did not specify which closing conditions were not fulfilled.

Honasa's board approved the acquisition in June, with the company proposing to buy the 58% stake from Fluence Pharma's existing shareholders for Rs.135 Cr. The secondary transa...