TPG Capital To Sell Nykaa Shares Worth ₹1000 Cr Today: Report

Nykaa shares were down 0.054 per cent lower at ₹184.35  apiece on BSE on Thursday from the previous day's close. Ever since the lock-in period expired, Nykaa shares have been under pressure. 

Mumbai: US-based investment firm TPG Capital is planning to sell shares worth ₹1,000 crore of FSN E-Commerce Ventures, which operates under the Nykaa brand, via a block deal on Friday, according to reports. It mentioned that Citigroup will act as the banker to the deal, and it provides a discount of up to 0.5 per cent from the going rate.

TPG Capital cutting stake in Nykaa can be primarily because the lock-in period for pre-IPO investors in Nykaa came to an end on 10 November. After the lock-in period expired, multiple bulk deals happened in Nykaa.

Nykaa shares were down 0.054 per cent lower at ₹184.35  apiece on BSE on Thursday from the previous day’s close. Ever since the lock-in period expired, Nykaa shares have been under pressure.

NSE data suggests that LIGHTHOUSE INDIA FUND III LIMITED sold 96,89,240 shares on 10 November at average price of ₹171 per share. Among other major sellers, SEGANTII INDIA MAURITIUS sold 33,73,243 shares at average price of ₹199 on 15th November.

After Nykaa’s successful stock market debut in last Novemner, its shares have fallen below their IPO price. In the July-September quarter, Nykaa had reported net profit of about ₹5 crore, helped by strong demand heading into the festive season. Apart from that, during this period, Nykaa’s revenue rose 39% to ₹1,231 crore.