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American investment company TPG capital sold over 5.4 crore shares of Nykaa’s parent company, FSN E-Commerce Ventures, in a block deal today, 18 November. The shares of the company opened 4 per cent higher to Rs 189.55 apiece on BSE after the block deal. At 12:58 pm, the stock was priced at Rs 192.25 on the BSE. The banker to the deal was Citigroup and the deal provided a discount of 0.5 per cent. This development comes after the lock-in expiry for pre-IPO investors in Nykaa ended on 10 November. The pre-IPO securities held by the investors and the promoters cannot be liquidated by them during the lock-in period. The company had engaged in multiple block deals earlier this week.
In a recent development, Lighthouse India Fund III offloaded the shares of FSN E-Commerce Ventures on Wednesday through open market transactions. Lighthouse India Fund III has sold over 3 crore shares of the company worth Rs 525 crore. Segantii India Mauritius also offloaded 33.7 lakh shares of the firm on Tuesday. Hermes Investment Funds Public Ltd Co Emum bought 25.8 lakh shares of FSN E-Commerce Ventures. Similarly, Canada Pension Plan Investment Board (CPPIB) purchased over 1.70 crore shares of the firm for Rs 299 crore via an open market transaction on Thursday.
FSN E-Commerce Ventures deals with the manufacturing, distribution, and selling of products related to beauty, personal care, health care, wellness, hair care, fitness, skin care, fashion garments, and fashion accessories and equipment.
It distributes the products via both online portals and physical stores. Its offline retail store channel contains 73 physical retail stores. Out of which, 72 stores are for beauty and personal care products, and 1 store deals with fashion products across 38 cities in India. The online portals it uses for distribution are e-commerce, Internet, m-commerce, and intranet.
The three types of retail stores operated under the company are Nykaa Luxe, Nykaa OnTrend, and Nykaa Kiosk. The brands owned by the corporation include Nykaa Naturals, Kay Beauty, Nykaa Cosmetics, Twenty Dresses, Nykd, and Pipa Bella. Nykaa E-Retail Private Limited, FSN Brands Marketing Private Limited, and Nykaa Fashion Private Limited are some of its subsidiaries.
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