Nykaa Stock: Another blow for this company, CFO resigns, shares shattered – Nykaa shares tumble nearly 5 Percent on likely stake sale by Lighthouse India know the details and share Price tutd

Shares of FSN E-Commerce Ventures, the parent company of beauty fashion e-retailer Nykaa, continue to decline. The shares closed down 4.5 per cent on Tuesday. This decline in shares has come due to the news of a block deal by private equity firm Lighthouse India. It is being said that Lighthouse India is in the process of selling 1.8 crore shares of Nykaa.

After this news, investors are constantly exiting by selling shares of the company. As of November 12, Lighthouse India held 2.04 per cent stake in Nykaa, or a little over 5.81 crore shares. The company is now selling shares worth Rs 320 crore.

Meanwhile, Arvind Agarwal, CFO of Nykaa Company, has resigned. He will be relieved on 25 November. The company has given this information in the regulatory filing. Arvind Agarwal was associated with Nykaa in July 2020. Earlier he was working in Amazon.

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sales price band

According to the report, it is expected that Nykaa shares can be sold in the price band of Rs 180-183.5. After the pre IPO investor lock-in period is over, investors are continuously leaving Nykaa’s stock. Shares of Nykaa fell 4.66 per cent to close at Rs 174.95 on Tuesday. The stock of Nykaa opened at Rs 186 and reached an intraday high of Rs 187.25. But after this the stock broke down and came down to Rs 174.50. Earlier on Monday too, Nykaa’s shares were down 4 per cent.

Bad condition after the end of lock-in

Nykaa’s shares were listed strongly in November last year. After the end of the lock-in period, investors are continuously exiting the stock. Actually, the company had about 67 per cent shares in the lock-in. The company had got indications that after the lock-in period ends, selling will be seen. So he declared bonus in the ratio of 5:1. But even the bonuses have not been able to stop the selling so far.

was sold last week

Last week, American investor Mala Gopal Gaonkar sold shares worth Rs 1,009 crore in the company. Earlier, Lighthouse India Fund III had sold 30 million shares of FSN E Commerce Ventures (Nykaa) worth Rs 525.39 crore in a bulk deal. Nykaa is an online market place for beauty and wellness products. The IPO of its parent company FSN E-Commerce Ventures Ltd was opened for investment on 28 October 2021. The company had announced to raise Rs 5,352 crore through IPO with a price band of Rs 1,085-1,125.

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