FSN E-Commerce Ventures, the company behind the beauty and fashion retail brand Nykaa, announced on June 14 that it has allotted 4.73 lakh equity shares under its employee stock option plan (ESOP). This information was disclosed in a filing with the stock exchange.
The newly allotted shares are valued at approximately Rs 8.08 crore, based on Nykaa's closing price of Rs 170.95 on the BSE as of June 13.
Also Read | Hold FSN E-Commerce Ventures: target of Rs 175: ICICI Securities
Previously, on May 20, the Mumbai-based company had allotted 405,000 shares under its ESOP scheme. Companies typically issue shares to employees to attract and retain talent, align their interests with those of shareholders, and boost overall performance.
For the quarter ending March 2024, Nykaa reported a significant increase in its consolidated net profit, which jumped 187 percent to Rs 6.9 crore, compared to Rs 2.4 crore in the same period last year. Revenue from operations for the reporting quarter rose 28 percent year-on-year to Rs 1,668 crore.
On June 14, shares of FSN E-Commerce closed nearly 2 percent higher at Rs 170.
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