Nykaa Slips on Another Block Deal: Pre-IPO Investors’ Selling Spree Continues

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Nykaa Slips on Another Block Deal: Pre-IPO Investors’ Selling Spree Continues

By Malvika Gurung

Investing.com -- Shares of the beauty products e-commerce company Nykaa (NS: FSNE ) declined 3% to Rs 178.1 apiece while writing, after tanking 5% in early trade on Tuesday amid reports of a block deal.

Private equity firm Lighthouse India was reported to offload its stake held in Nykaa worth Rs 320 crore at an offer price of Rs 180-183.5/share, which is at an almost 2% discount to Monday’s closing price.

In the morning trade, over 3.7 crore equity shares of Nykaa exchanged hands in a block deal. While Lighthouse India was reported to sell a stake in Nykaa, the buyer is not known. The broker for this deal is Bank of America (NYSE: BAC ).

The beauty e-retailer’s mandatory one-year lock-in period for pre-IPO investors ended on Nov 10. Since then, pre-offer investors have been offloading their stakes in Nykaa.

Lighthouse India Fund III sold 96.89 lakh shares of Nykaa on Nov 10 at an average of Rs 171.75 apiece, followed by offloading another 3 crore shares at an average of Rs 175.13 apiece on Nov 16.

Besides, other pre-IPO investors, including TPG Growth, Mala Gaonkar and Narotam Sekhsaria have also sold their stakes in the company since Nov 10.

Segantii India Mauritius offloaded over 33.73 lakh equity of Nykaa at Rs 199.24 apiece on Nov 15.

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