Shares of Nykaa parent firm FSN E-Commerce Ventures Ltd. gained over 4% on Friday following a large trade. Early investors reportedly sold a 1.4% stake for over Rs 858 crore.
About 4.08 crore shares, or 1.4% of the equity stake, changed hands in the pre-market session at an average price of Rs 208 per share, according to Bloomberg data.
Harindarpal Singh Banga and Indra Banga, investors in Nykaa parent firm, proposed to sell up to 4.09 crore shares through a block deal, according to terms obtained by Bloomberg News.
The floor price of the offer is Rs 198 per share, which represents a discount of 6.27% to Nykaa’s closing price of Rs 210.42 per share on the NSE on Thursday.
Harindarpal Banga held a 6.4% stake in the beauty and personal care platform as of June 2024. Goldman Sachs and JPMorgan will be managing the transaction.
