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Nykaa shares sink below issue price as end of lock-in period gets near

Pre-IPO lock-in expires on November 10

October 26, 2022 / 09:19 AM IST
Representative image

Representative image

Share price of FSN E-Commerce Ventures, the parent of Nykaa, fell as much 2 per cent on Tuesday to drop below its initial public offering price of Rs 1,125 as the end of pre-IPO lock-in looms.

At 2:15 pm, the stock was quoting at Rs 1,115 on the National Stock Exchange, down 2.5 percent. In the last five trading sessions, the stock has shed 3 percent. In the last one month, it is down 12.67 percent.

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Pre-IPO investors' lock-in expires on November 10. JM Financial is of the view that around 67 percent or 31.9 crore shares are likely to open for trade on the expiry day. Steadview Capital Mauritius Ltd, TPG Growth IV SF Pte. Ltd, Lighthouse India Fund III, along with HNIs like Harindarpal Singh Banga, Narotam Sekhsaria and Sunil Kant Munjal will be eligible to sell their holdings.