FSN E-Commerce Ventures, Nykaa's parent company, on September 28 informed the stock exchanges in a regulatory filing that a meeting of its board of directors is scheduled for October 3 to consider and approve the issuance of bonus shares to shareholders.
The board may seek the shareholders’ approval by way of a postal ballot and other approvals for the share issue.
Bonus shares are fully paid additional equity shares issued to the existing shareholders of a company.
Nykaa was in the news on September 27 for its partnership with Indian Institute of Management Ahmedabad (IIMA) to launch 'Nykaa Chair in Consumer Technology'. Through this, the company aims to develop consumer technology research solutions.
Nykaa Q1 profit surges 42 percent YoY
The cosmetics-to-fashion retailer on August 5 reported a 42.24 percent year-on-year increase in consolidated profit at Rs 5.01 crore for the quarter ended June 2022, aided by better topline and operating performance.
Bumper D-Street Debut
FSN E-Commerce Ventures had made a bumper debut as the stock listed with a massive 79 percent premium on November 10 last year. The share opened at Rs 2,001 on the BSE, while the listing price on the National Stock Exchange was Rs 2,018.
The Rs 5,352-crore public issue saw huge demand and was subscribed 81.78 times during the October 28-November 1 period, receiving bids for 216.59 crore equity shares against an offer size of 2.64 crore shares.
On September 28, shares of FSN E-commerce closed at Rs 1,283.50 apiece, down by 0.32 percent (or 4.15 points) on the BSE.
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