Around 2.7 crore shares of Nykaa parent FSN E-commerce, representing a 0.9 percent stake in the company changed hands in a block deal on the bourses on January 12. The total transaction value was at Rs 516 crore.
Moneycontrol could not immediately identify the buyers and sellers involved in the transaction.
However, CNBC Awaaz reported that asset management firm Lexdale International was looking to offload 2.62 crore shares of the Nykaa parent through block deals worth Rs 490 crore.
According to the report, the lock-in period for this deal is set at 45 days brokerage firms Morgan Stanley and JP Morgan were the brokers to the deal.
Following the block deal, at 09.33 am, shares of FSN E-commerce were trading 1.5 percent higher at Rs 190.65 on the NSE.
Meanwhile, earlier this month, the company stated that it witnessed consistent growth across its three business verticals in the December quarter even as there were some headwinds on discretionary consumption due to short-term pressures.
The company also forecasted its Beauty and Personal Care (BPC) vertical to report a GMV (Gross Merchandise Value) growth in the mid-20s for the October-December quarter, while net sales value growth to be around 20 percent on an year-on-year basis.
Furthermore, the company added that the growth in its BPC segment had outperformed that of the overall industry. However, industry growth had slipped below long-term trajectory but the company feels should revert to the median in the near to mid-term, given the strong macroeconomic and demographic outlook.
Also Read | Nykaa: Lexdale likely to sell Rs 490 crore worth of shares in bulk deal
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