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Business Standard
13 hours ago
- Business
- Business Standard
Banga family divests 2.1% stake in Nykaa's parent firm for ₹1,213 crore
Harindarpal Singh Banga and his wife Indra Banga on Thursday divested a 2.1 per cent stake in FSN E-Commerce Ventures, the parent company of fashion and beauty retailer Nykaa, through bulk deals worth ₹1,213 crore. Following the stake sale, shares of Nykaa declined by 4 per cent to ₹203.50 apiece on the BSE, and by 3.82 per cent to ₹203.50 per piece on the NSE. Harindarpal Singh is a commodities billionaire and Chairman and CEO of Hong Kong-based Caravel Group. Banga was an early investor in Nykaa, which went public in 2021. As per the deal, up to 6 crore equity shares of FSN were sold at a final price of ₹202.25 per share. This represents a discount of about 4.4 per cent to FSN's closing price of ₹211.59 on NSE on Wednesday, as per the term sheet accessed by PTI. Goldman Sachs (India) Securities and J P Morgan India were the brokers for the deal. The transaction comprises a sale of approximately 6 crore shares amounting to around 2.1 per cent stake in FSN. At the final price, the total deal size is estimated at ₹1,213.5 crore ($141.9 million), which is executed in one or more bulk deals on the BSE and NSE. The offer is entirely secondary in nature. After the latest transaction, Harindarpal's holding in Nykaa has come down to 2.87 per cent from 4.97 per cent. Last month, FSN said it has set a break-even target of FY26 for its cash-burning fashion arm on account of marketing efficiencies, overhead leverage, and own-brand growth. Nykaa is also making a foray into the quick-commerce arena with "Nykaa Now", which offers delivery time of 30 to 120 minutes across seven major cities. The service is backed by a network of beauty warehouses, physical retail stores and rapid stores across the country. The fashion vertical, which generated about ₹3,800 crore in GMV (Gross Merchandise Value), is currently a drag on consolidated profitability, posting a Ebitda margin of (-) 8.3 per cent for FY25. In May, Nykaa reported over threefold increase in consolidated net profit to ₹20.28 crore for the March quarter. The fashion and beauty retailer had logged a profit (attributable to equity shareholders of the parent) of ₹6.93 crore in the year-ago period, according to a regulatory filing. Revenue from operations was 23.6 per cent higher at ₹2,061.76 crore during the quarter, against ₹1,667.98 crore a year earlier. However, seen sequentially, profit and revenue fell 22.3 per cent and 9 per cent, respectively. In 2024-25, profit more than doubled to ₹66.08 crore, from ₹32.26 crore in the previous fiscal year. Revenue from operations stood at ₹7,949.82 crore, 24.4 per cent higher than ₹6,385.62 crore in FY24. In FY25, Nykaa saw its cumulative customer base grow 28 per cent year-on-year to over 42 million. In August last year, Harindarpal Singh Banga divested over 4 crore shares, or 1.43 per cent stake, in Nykaa for ₹851.50 crore.
Mint
13 hours ago
- Business
- Mint
Nykaa share price falls over 4% on ₹1,200 crore block deal buzz; Bangas likely sellers
Nykaa share price declined over 4% in early trade on Thursday on reports of a major block deal in the shares. Nykaa shares fell as much as 4.5% to ₹ 202.25 apiece on the BSE. 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.
Time of India
14 hours ago
- Business
- Time of India
Nykaa block deal: Founders offload shares worth Rs 1,200 crore; stock falls 4.5%
Representative image Shares of FSN E-Commerce Ventures, the parent firm of beauty and fashion retailer Nykaa, fell by up to 4.5 per cent on Thursday, hitting a low of Rs 202.25 on the BSE , after around six crore shares exchanged hands in a large block deal. According to ET, this transaction accounted for roughly 2.3 per cent of the company's total equity. The decline followed reports that early investors Harindarpal Singh Banga and Indra Banga were planning to offload part of their holdings through a secondary sale valued at nearly Rs 1,200 crore. Term sheets issued ahead of the transaction indicated that around 60 million shares, or 2.1 per cent of Nykaa's equity, would be sold at a floor price of Rs 200 per share, reflecting a discount of approximately 5.5 per cent to the stock's closing price of Rs 211.59 on July 2. The deal, entirely a secondary transaction, does not involve issuing new shares, meaning the proceeds will go directly to the selling shareholders. According to ET, global investment banks Goldman Sachs (India) Securities and JP Morgan India are overseeing the sale. The trade is scheduled for execution on July 3, with settlement due the following day. A 45-day lock-in period has been placed on the sellers and their affiliates, barring any further share sales during this time. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Нов таблет с Android Pro 14 Murreice Купете сега Undo Retail investors will not be allowed to participate, and distribution in the US and Canada is limited to institutional investors under respective local regulations. Eligible buyers must also sign an investor representation letter as part of the process. The final share price will be determined through a screen-based mechanism depending on investor demand. The order books are expected to close by 7:30 am on the day of the deal, and foreign portfolio investors (FPIs) may take part, provided there is regulatory space under Indian law. This stake sale comes at a time when Nykaa is witnessing renewed interest from institutional investors amid signs of a gradual stock recovery. It also reflects a strategic monetisation by key shareholders as the company pushes to improve profitability. As per PTI, Nykaa is targeting a break-even for its loss-making fashion segment by FY26, driven by improved marketing efficiency, higher own-brand sales, and overhead leverage. The vertical reported a negative EBITDA margin of 8.3 per cent in FY25, despite generating Rs 3,800 crore in GMV. In FY25, Nykaa's profit more than doubled to Rs 66.08 crore from Rs 32.26 crore the previous year. Revenue rose by 24.4 per cent to Rs 7,949.82 crore. The customer base also grew by 28 per cent year-on-year to over 42 million, while its total GMV reached Rs 15,604 crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
16 hours ago
- Business
- Business Standard
Nykaa shares slide 5% after multiple large trades; check likely seller here
Shares of FSN E-commerce -- the parent company of Nykaa -- slipped nearly 5 per cent in trade on Thursday after about 65.3 million shares changed hands in multiple block deals. The E-commerce firm's stock fell as much as 4.77 per cent during the day to ₹201.5 per share, the steepest intraday fall since June 2 this year. The stock pared some losses to trade 4.1 per cent lower at ₹202.5 apiece, compared to a 0.23 per cent advance in Nifty 50 as of 9:45 AM. Shares of the company are up over 5 per cent from its recent lows of ₹192, which it hit last month, and have recovered over 25 per cent from April lows. The counter has risen 24 per cent this year, compared to a 7.6 per cent advance in the benchmark Nifty 50. FSN E-commerce has a total market capitalisation of ₹57,980.34 crore, according to BSE data. Track LIVE Stock Market Updates Here Nykaa block deal The shares took a plunge after about 65.3 million shares, or a 2.3 per cent stake, changed hands in three block trades during market opening, according to Bloomberg. The buyers and sellers were not known immediately. However, the news agency earlier reported that Harindarpal Singh Banga and Indra Banga are offering to raise up to ₹1,200 crore via a sale of shares. The floor price for the transaction was set at ₹200 per share, a discount of ₹11 compared with Wednesday's close on NSE. Goldman Sachs and JP Morgan are managing the deal, the report added. Harindarpal Singh Banga had about 4.97 per cent stake in the company as of the March 2025 quarter, according to BSE data. The stock of Nykaa was the most-traded stock by volume and value, according to Bloomberg. It was the worst performer on the S&P BSE 500, Nifty Midcap 100 indexes. The trading volume was above 7.8 times the three-month full-day average. Nykaa Q4 results The online beauty retailer released its Q4 results on Friday, after market hours. In its fourth quarter ended March 31, 2025, the company reported a 193 per cent rise in consolidated net profit at ₹20.28 crore for Q4FY25, compared to ₹6.93 crore in the year-ago period. Its revenue from operations also jumped 23.6 per cent year-on-year (Y-o-Y) to ₹2,062 crore in Q4FY25, from ₹1,668 crore in Q4FY24. Nykaa's earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter expanded 43 per cent YoY to ₹133 crore. The company's gross merchandise value (GMV) also increased 27 per cent YoY to ₹4,102 crore in Q4FY25.
Mint
17 hours ago
- Business
- Mint
Nykaa share price falls over 4% on ₹1,200 crore block deal buzz; Bangas likely sellers
Nykaa share price declined over 4% in early trade on Thursday on reports of a major block deal in the shares. Nykaa shares fell as much as 4.5% to ₹ 202.25 apiece on the BSE. 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. 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. He pared some of his stake in August last year, selling 40.9 million shares via a bulk deal. At 9:22 AM, Nykaa share price was trading 4.34% lower at ₹ 202.60 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
