Nykaa shares jump 5% as 4 crore shares change hands via block deal
Harindarpal Singh and associates, a pre-IPO investor, was looking to offload 1.4% stake worth ₹809 crore in Nykaa through block deal.
Harindarpal Singh and associates, a pre-IPO investor, was looking to offload 1.4% stake worth ₹809 crore in Nykaa through block deal.
The share price of Nykaa’s parent, FSN E-Commerce Ventures, gained 4.9% intraday to hit a high of ₹154.65 on the BSE, driven by strong Q2 numbers.
The consolidated net profit attributable to equity shareholders of parent fell 27% to ₹3.3 crore as compared to ₹4.55 crore in the same period a year ago.
The profit before tax and revenue from operations of the fashion e-retailer rose 48% and 34% YoY, respectively.
Nykaa share price declined 5.5% to hit a fresh all-time low of ₹132.55 in intraday trade on the BSE.
Nykaa share price has fallen over 13% in three sessions as pre-IPO investors pressed the sell button soon after the company issued bonus shares.
Private equity firm Lighthouse India sold shares worth ₹320 crore of Nykaa via block deal at a price band of ₹180-₹183.50 per share.
Several foreign funds including Segantiii India Mauritius, Lighthouse India Fund, and Citigroup have sold their stake in Nykaa after the pre-IPO lock-in period expired on November 10.
The largecap stock witnessed sharp selling today as investors were waiting for the listing of bonus shares after the lock-in period ended on November 10.
The lock-in period for Nykaa share expires today, which means promoters and investors can liquidate their pre-IPO stocks owned by them.