 "fsn e-commerce nykaa")
The fashion segment revenue grew about 21 per cent to Rs 148.6 crore from Rs 122.45 crore a year ago.
A public shareholder of FSN E-Commerce Ventures Ltd, which owns the beauty and personal care brand Nykaa, on Friday offloaded a 1.43 per cent stake in the company for Rs 851 crore in an open market transaction.
As per the bulk deal data available on the BSE, Harindarpal Singh Banga divested over 4 crore shares, or 1.43 per cent stake, in Nykaa at Rs 208.30 apiece, taking the transaction value to Rs 851.50 crore.
After the stake sale, Banga’s shareholding in Nykaa has come down to 4.97 per cent from the earlier 6.40 per cent.
Harindarpal Singh Banga is a commodities billionaire and chairman of Hong Kong-based Caravel Group. Banga was an early investor in the fashion and beauty platform Nykaa, which went public in 2021.
Nippon India Mutual Fund (MF), HSBC MF, Invesco MF, Kotak Mahindra MF, Invesco MF, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, Goldman Sachs and Morgan Stanley were the buyers of FSN-E Commerce’s shares.
Societe Generale, Abu Dhabi Investment Authority, Copthall Mauritius Investment, AL Mehwar Commercial Investments LLC, Caisse De Depot ET Placement DU Quebec, India Acorn ICAV and Bajaj Allianz Life Insurance were also among the buyers of Nykaa shares.
Nykaa settled 7.84 per cent higher at Rs 226.90 apiece on the BSE.
FSN E-Commerce Ventures last week posted over two-fold jump in consolidated net profit at Rs 13.64 crore for June quarter FY25. The company had posted a net profit of Rs 5.42 crore for the same period a year ago.
Revenue from operations increased about 23 per cent to Rs 1,746.11 crore from Rs 1,421.82 crore.
The growth was led by the beauty segment of Nykaa which reported about 23 per cent increase in revenue to Rs 1,593.51 crore in June 2024 quarter from Rs 1,298.36 crore a year ago.
The fashion segment revenue grew about 21 per cent to Rs 148.6 crore from Rs 122.45 crore a year ago.
First Published: Aug 23 2024 | 10:44 PM IST
