Nykaa share price falls on large trade deal buzz in the market

Market


Nykaa share price fell on January 12 after news reports said 1.4 crore shares of parent company FSN E-Commerce Ventures changed hands in a large trade today.

The stock opened lower at 152.95 versus a closing price of 155.10 on the previous day, but reversed the losses to trade higher at 156.65 soon. The stock was not able to sustain the gains though as again slipped in the red. At the time of writing this copy, the share price was trading 2.4% lower at 151.40 on BSE. Data on exchange website showed 4,60,428 shares traded on the bourse.

Media reports quoted the shares of the Nykaa parent company were sold by an undisclosed player at 148.90 a piece to raise $26 million via a block deal.

Mint could not independently verify the report.

Goldman Sachs, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance Company and Canada Pension Plan Investment Board bought stake in FSN E-Commerce Ventures in December in block deals.

Goldman Sachs Investments Mauritius has bought 64,58,774 Nykaa shares at a price of 171 apiece whereas Goldman Sachs (Singapore) bought 64,58,775 Nykaa shares at same price. This means, Goldman Sachs has made an investment of 2,20,89,00,879 or 220 crore in the fashion retail brand.

Mirae Asset Mutual Fund had bought 58.50 lakh Nykaa shares. ICICI Prudential Life Insurance Company had bought 87.70 lakh shares. The Canadian pension fund had bought 92.50 lakh shares.

In November, Lighthouse India Fund III offloaded more than 1.84 crore equity shares in Nykaa at a price of 182 per share – amounting to approximately 335.72 crore.

On the other hand, during the block deal, BofA Securities Europe SA purchased over 7.78 lakh equity shares in Nykaa, while Societe Generale bought 9 lakh shares, BNP Paribas Arbitrage purchased about 13.50 lakh shares, Morgan Stanley Asia Singapore bought over 29.17 lakh shares, and Ontario Teachers’ Pension Plan Board bought 34.50 lakh shares in the company.

The stock hit a 52-week high of 348.70 on January 17, 2022 and a 52-week low of 139.35 on December 23, 2022.

 


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