Investor Harindarpal Singh Banga offloaded a 1.43% stake in Nykaa parent firm FSN E-Commerce Ventures Ltd. for Rs 851 crore through an open market transaction on Friday. Banga sold 4.08 crore shares at Rs 208.30 apiece, taking the transaction value to Rs 851.5 crore.
Banga held a 6.4% stake in the beauty and personal care platform as of June 2024.
Nippon India Mutual Fund bought 74 lakh shares or a 0.25% stake, worth Rs 184 crore, at Rs 208.3 apiece. Goldman Sachs (Singapore) Pte.- Odi bought 37.5 lakh shares or a 0.13% stake worth Rs 78 crores, at Rs 208.3 apiece.
Other buyers include Kotak Mahindra Mutual Fund, Morgan Stanley Asia Singapore, ABU Dhabi Investment Authority, among others.
Shares of Nykaa closed 7.84% higher at Rs 226.90 apiece on the BSE, compared to a 0.04% rise in the benchmark Sensex.
Nykaa Shares Soar As Early Investors Offload Rs 858 Crore Stake. Read more on Markets by NDTV Profit.