Nykaa share price falls over 4% on ₹1,200 crore block deal buzz; Bangas likely sellers
According to reports, Nykaa's early investors, Harindarpal Singh Banga and Indra Banga sold 6 crore Nykaa shares, representing a 2.1% stake in the company, through a block deal.
It was earlier reported by Mint that Harindarpal Singh Banga and Indra Banga will sell a 2.1% stake worth $140.3 million (approximately ₹ 1,200 crore) in FSN E-Commerce Ventures Ltd, the parent company of beauty and personal care company Nykaa.
The Bangas are offloading about 6 crore Nykaa shares at an offer price of ₹ 200 per share, a 5.5% discount to Wednesday's closing price, as per the term sheet accessed by Mint.
Goldman Sachs and JP Morgan are managing the transaction, as per the report.
Banga, chairman of Hong Kong-based Caravel Group, held an 8.7% stake in Nykaa before it listed in 2021. He pared some of his stake in August 2024, selling 4.09 crore shares via a bulk deal.
Harindarpal Banga owned 14.20 crore Nykaa shares, aggregating to 4.97% stake in the company, as of March 2025, the latest shareholding pattern on stock exchange data showed.
Nykaa share price has gained 4% in one month and has rallied over 13% in three months. On a year-to-date (YTD) basis, Nykaa shares have surged 23%, while the stock is up 16% in one year and has jumped 37% in two years.
At 9:22 AM, Nykaa share price was trading 4.34% lower at ₹ 202.60 apiece on the BSE.
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