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.