Nykaa shares hit fresh lifetime low amid slew of bulk, block deals
Nykaa share price: Nykaa stocks are under pressure ever since the IPO lock-in period ended. Several fund houses and investors have offloaded their stake in the company since November 10, thus dragging the stock. After the end of lock-in period, 67 per cent holding in the Nykaa opened for trading.
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Nykaa share price: Shares of FSN E- commerce Venture Limited parent company of Nykaa tumbled 5 per cent on Monday, December 19, to hit all-time low at Rs 159.70 on NSE as American global investment company Kravis Investment Partners offloaded stakes in the company. On BSE, the stock traded near day's low at Rs 160.70 apiece. Kravis Investment had on December 15 sold 3.670 crore shares of Nykaa via bulk and block deals.
Nykaa stocks are under pressure ever since the IPO lock-in period ended. Several fund houses and investors have offloaded their stake in the company since November 10, thus dragging the stock. After the end of lock-in period, 67 per cent holding in the Nykaa opened for trading.
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Nykaa shares have tanked more than 7 per cent in the past two sessions.
According to details available, Kravis Investment Partners sold 3.670 crore shares at 171 apiece, worth Rs 629.06 crore via multiple block deals, according to exchange data.
Meanwhile, FIIs and DIIs have purchased fresh stakes in Nykaa, according to the BSE data. The buyers include Goldman Sachs, ICICI Prudential Life, Mirae Asset Mutual Fund and Canada Pension Plan Investment Board.
Nykaa's share price has corrected more than 50 per cent in 2022 so far. The 52-week range of the stock is Rs 363.33 - Rs 159.70.
Last month, company’s chief financial officer (CFO) Arvind Agarwal resigned. Agarwal stepped down from his role on November 25, Nykaa had said in a regulatory filing on November 22.
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