Nykaa shares log in 8% spike after large block deals

Shares of Nykaa owner FSN E-Commerce Ventures gained over 8 percent on Wednesday after block deals totalling 5.54 million shares worth Rs 75.5 crore.

However, the identity of the buyers and sellers remains unknown at the moment.

This comes on the heels of another bulk deal that took place on March 17, 2023, wherein 6.57 million shares or 0.23 percent equity worth Rs 93.2 crore were sold at Rs 141.90 apiece.

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Shares of Nykka have been stressed ever since pre-IPO investors started exiting the company after the end of its lock-in period on November 9, 2022, causing its share price to take a hit.

Earlier, Lighthouse India sold around 18.45 million shares worth Rs 336 crore, Kravis Investment Partners sold around 36 million shares worth Rs 630 crore, and TPG liquidated around 5.43 crore shares for Rs 998 crore.

The company’s market capitalisation has declined by 36 percent in the last six months and over 50 percent in the last year.

At 1.36pm, the scrip was trading 7.69 percent higher on the NSE at Rs 136.55 with the benchmark Nifty trading 0.73 percent up at 17,525.05 points.