Nykaa declines 1.5% after 10 lakh more shares went on block deal today

According to Bloomberg, around 1.08 million shares changed hands in bulk trades. Details of the buyers and sellers for the deal were, however, not known. On Thursday, around 14.2 million shares or 0.5 percent stake, of Nykaa changed hands

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Shares of Nykaa owner FSN E-Commerce Ventures Ltd fell 1.5 percent after the company registered a huge block deal for the second session.

The stock dropped as much as 1.7 percent to hit a low of Rs 146.30 on the BSE in intraday. At 12.11pm, the scrip was trading at Rs 147 on the BSE, down 1.6 percent from its previous close. The stock fell five out of six sessions and declined 4.5 percent in this period. In the last one year, the stock has declined over 57 percent.

According to Bloomberg, around 1.08 million shares changed hands in bulk trades. Details of the buyers and sellers for the deal, however, were not known. On Thursday, around 14.2 million shares, or 0.5 percent stake, of Nykaa changed hands.

The stock is under selling pressure as several pre-IPO investors liquidated their positions after its lock-in period expired on November 9. Lighthouse India sold around 18.45 million shares worth Rs 336 crore, Kravis Investment Partners have sold around 36 million shares worth Rs 630 crore and TPG have liquidated around 5.43 crore shares worth Rs 998 crore, according to the BSE and NSE block deal data.

In October, the firm announced a bonus issue just before its expiry of a lock-in period. The company said it will issue five free shares for every one share held. This was given the go-ahead by the Institutional Investor Advisory Services (IiAS) in a note issued on November 2.