Banga's Big Bet: Nykaa Stake Sale Shakes Market

Harindarpal Singh Banga and his wife divested a 2.1% stake in Nykaa, resulting in a deal worth Rs 1,213 crore. Following this, Nykaa's shares declined on the BSE and NSE. Banga's holding has reduced from 4.97% to 2.87%. Despite challenges, Nykaa continues expanding into quick-commerce with 'Nykaa Now'.

Devdiscourse News Desk | New Delhi | Updated: 03-07-2025 12:12 IST | Created: 03-07-2025 12:12 IST

Banga's Big Bet: Nykaa Stake Sale Shakes Market — stake

Country:
India

Harindarpal Singh Banga, a Hong Kong-based commodities billionaire, and his wife Indra Banga have sold a 2.1% stake in FSN E-Commerce Ventures, the parent company of Nykaa, for Rs 1,213 crore through bulk deals. This significant divestment has led Nykaa's shares to drop by 4% on the BSE.

The deal involved selling approximately 6 crore equity shares at Rs 202.25 per share, marking a 4.4% discount to the previous closing price. The sale was managed by Goldman Sachs and J P Morgan India, and it follows a previous divestment by Harindarpal last August.

Despite this sale reducing Banga's stake to 2.87%, Nykaa remains in expansion mode. Initiatives include its quick-commerce service, 'Nykaa Now', aiming to improve delivery times in major cities. Moreover, the company has shown significant growth in customer base and revenue, despite recent profitability challenges.

(With inputs from agencies.)