Nykaa block deal: Stock zooms 5% after TPG Capital offloads 5.42 crore shares

Nykaa Block Deal, Nykaa Share Price: Shares of FSN E-Commerce Ventures, the parent company of Nykaa, opened sharply higher on Friday, November 18, gaining as much as 4 per cent to Rs 189.55 apiece on BSE after a block deal. 

According to details available, TPG Capital offloaded 5,42,15,250 shares or 1.9 per cent equity shares in a block deal in the fashion and cosmetic e-commerce retailer. TPG Capital is an American investment company. The deal offered a discount of up to 0.5 per cent. Nykaa shares on Thursday closed 0.57 per cent higher at Rs 185.55 on BSE.

The stock, after the deal was executed, made an intraday high of Rs 196.65 as it zoomed more than 6 per cent. At 10:25 AM, the counter quoted Rs 192.50 apiece.

NYKAA BLOCK DEAL TODAY

Earlier on Thursday, Canada Pension Plan Investment Board (CPPIB)  bought over 1.70 crore shares of Nykaa for Rs 299 crore through an open market transaction. CPPIB purchased a total of 1,70,81,850 shares of the company, as per bulk deal data on BSE.

The shares were acquired at an average price of Rs 175.25 apiece, taking the aggregate value to Rs 299.35 crore. 

Meanwhile, Mala Gopal Gaonkar disposed a total of 5.75 crore shares of the company, according to a PTI report on Thursday.

Nykaa's lock in ended on November 10. Since then, the company has recorded 7 bulk trades, according to data available on NSE website.

Nykaa stock has tanked around 23 per cent in the past 6 months. In 2022 so far, the stock has corrected nearly 45 percent. The stock's 52-week range is Rs 428.95 - Rs 162.5. 

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