Last Update: January 12, 2023, 11:45 AM IST
Nykaa Share Price Today: Nykaa’s share price fell on January 12 after 14 million shares, or 0.5 per cent, of FSN E-Commerce Ventures Ltd, the parent company of fashion e-tailer Nykaa, joined hands in a major deal.
According to Bloomberg, an offer was made by an undisclosed seller at Rs 148.90 per share to raise $26 million through the block. The sale price indicated a discount of 4 per cent over yesterday’s closing price. News18.com could not independently verify the report.
The stock opened at Rs 152.95 against the previous day’s closing price of Rs 155.10, but soon reversed losses to reach Rs 156.65. The stock was not able to sustain the gains though again slipped into the red mark. At the time of writing this copy, the share price was trading 2.4 per cent lower at Rs 151.40 on BSE. Data on the exchange’s website showed that 4,60,428 shares were traded on the exchange.
The lock-in period for Nykaa’s pre-IPO shareholders ended on 9 November. Nearly 67 per cent shareholding of Nykaa was freed from lock-in with the expiry of the restricted period. This equates to approximately 310 million shares.
followed by a fund like Lighthouse India The fund, TPG Growth and high net worth individuals such as Mala Gaonkar and Narottam Sekhsaria sold some stake in the counter.
HSBC Securities & Capital Markets believes, ‘Global tech sell-off on rising yields and the recent impending lock-in expiry partly led to a correction in the stock.’ “We believe the valuation is now even more attractive and appreciate the opportunities for structural growth in beauty and personal care.”
HSBC has the most bullish target of Rs 2,180 on Nykaa. Meanwhile, the stock is down over 60 per cent since its November 2021 listing.
Nykaa shares are down 11 percent over the past month and have halved over the 12-month period.
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