Lighthouse to offload ₹335 crore worth Nykaa shares via block deal tomorrow


Private equity player Lighthouse India will sell shares worth 335 crore in FSN E-Commerce Ventures, which runs Nykaa, through a block deal tomorrow. The Bank of America Corporation is the appointed banker for the deal, according to reports.

Lighthouse India is expected to sell the shares at a price band of around 180-183.5 apiece, a 2% discount to Monday’s last closing price of the e-commerce beauty company.

Shares of Nykaa settled at 183.50 apiece on the NSE today, down 4.63%. The stock is down over 57% from its 52-week high.

Reports suggested that around 1.8 crore shares or 0.65% of Nykaa’s overall stake would be offloaded by Lighthouse via the block deal tomorrow.

Last Friday, TPG Growth sold shares of Nykaa for more than 1,000 crore. As many as 5.42 crore shares of the company were offloaded at a price of 184.55 apiece through a block deal.

Recently, Lighthouse India Fund-III sold 30,000,000 shares of Nykaa at an average price of 175.13 per share, taking the aggregate value to 525.39 crore.

Lighthouse India Fund III had also sold 96.89 lakh shares of the company at an average price of 171.75 per share.

On 15 November, Segantiii India Mauritius sold 33,73,243 shares at an average price 199.24 per share.

Foreign investor Hermes Investment fund bought 25,82,921 shares at an average price of 198.48 per share.

The stock of Nykaa, which got listed in November 2021, is in focus as the mandatory lock-in period for pre-offer investors came to an end on 10 November.

During lock-in period, promoters and investors cannot liquidate the pre-IPO securities which they hold. As many as 67% of Nykaa’s shareholding will be released from lock-in.

Last month, Nykaa announced that its board had approved the issuance of bonus equity shares of the company in the ratio of 1:5 i.e., the company will issue bonus of 5 shares for every 1 share held as on the record date. The board of directors of the firm later revised the record date for its bonus issue to 11 November, 2022 from 3 November that was fixed earlier.

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