Shares of beauty ecommerce giant Nykaa hit their new all-time low at INR 159.7 on Monday (December 19), falling as much as 5% on the BSE by 2 PM IST.
The new plunge in its share price came days after its pre-IPO shareholder Kravis Investment Partners, which held a 1.13% stake in the company, offloaded shares worth INR 629 Cr via multiple block deals last week. Prior to the startup’s bonus share issue, Kravis Investment held a total of 53.8 Lakh shares of Nykaa. On Thursday, the venture capital firm sold 3.7 crore shares at INR 171 each. Following that, Nykaa shares fell 2.6% in two consecutive sessions last week, closing Friday’s session on the BSE at INR 168.05.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
