[Update] Lexdale International Offloads Nykaa Shares Worth INR 495 Cr

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Update | January 12, 11:26 PM

Lexdale International sold 2.62 Cr shares of FSN E-Commerce, Nykaa’s parent, in a block deal at a price of INR 188.83 apiece, as per the BSE data. This translates into a cumulative total of INR 495.44 Cr.

Shares of the beauty ecommerce giant closed 3.15% lower at INR 187.60 on the BSE on Friday (January 12).

Original Story| January 12, 12:21 PM

Shares of FSN E-commerce, the parent entity of beauty ecommerce platform Nykaa, declined by as much as 2.5% following a likely huge block deal.

Nykaa’s shares were trading at INR 188.75 apiece at 11:30 am during Friday’s (January 12) session.

As per a CNBC-TV18 report, around 2.7 Cr shares of FSN E-commerce, representing a 0.9% stake in the company, changed hands in a block deal on Friday, valuing the total transaction at INR 516 Cr.

However, the report couldn’t ascertain the buyers and sellers involved in the deal.

On Thursday (January 11), it was reported that Lexdale International was looking to offload 2.62 Cr shares of Nykaa through open market transactions.

Earlier this week, Nykaa, in its quarterly performance update, said it witnessed consistent growth across its three business verticals in the third quarter (Q3) of FY24.

During the quarter, the company acknowledged short-term challenges affecting discretionary consumption. However, it anticipates the beauty and personal care segment to achieve mid-twenties gross merchandise value (GMV) growth in Q3 FY24, while the Fashion vertical is projected to experience approximately 40% GMV growth.

Throughout 2023, the BPC giant faced challenges from rising competition, high inflation, and escalating customer acquisition costs. Despite these hurdles, the stock saw a partial recovery by the year’s end and has been consistently rising since.

Over the last one year, the company’s shares have surged by more than 24%, with an additional 11% gain in the first part of 2024.

Nykaa’s consolidated net profit jumped 50% to INR 7.8 Cr in the September quarter (Q2) of FY24 from INR 5.2 Cr in the previous year’s quarter, helped by growth across business verticals and cost control measures.

The post [Update] Lexdale International Offloads Nykaa Shares Worth INR 495 Cr appeared first on Inc42 Media.

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[Update] Lexdale International Offloads Nykaa Shares Worth INR 495 Cr

Update | January 12, 11:26 PM

Lexdale International sold 2.62 Cr shares of FSN E-Commerce, Nykaa’s parent, in a block deal at a price of INR 188.83 apiece, as per the BSE data. This translates into a cumulative total of INR 495.44 Cr.

Shares of the beauty ecommerce giant closed 3.15% lower at INR 187.60 on the BSE on Friday (January 12).

Original Story| January 12, 12:21 PM

Shares of FSN E-commerce, the parent entity of beauty ecommerce platform Nykaa, declined by as much as 2.5% following a likely huge block deal.

Nykaa’s shares were trading at INR 188.75 apiece at 11:30 am during Friday’s (January 12) session.

As per a CNBC-TV18 report, around 2.7 Cr shares of FSN E-commerce, representing a 0.9% stake in the company, changed hands in a block deal on Friday, valuing the total transaction at INR 516 Cr.

However, the report couldn’t ascertain the buyers and sellers involved in the deal.

On Thursday (January 11), it was reported that Lexdale International was looking to offload 2.62 Cr shares of Nykaa through open market transactions.

Earlier this week, Nykaa, in its quarterly performance update, said it witnessed consistent growth across its three business verticals in the third quarter (Q3) of FY24.

During the quarter, the company acknowledged short-term challenges affecting discretionary consumption. However, it anticipates the beauty and personal care segment to achieve mid-twenties gross merchandise value (GMV) growth in Q3 FY24, while the Fashion vertical is projected to experience approximately 40% GMV growth.

Throughout 2023, the BPC giant faced challenges from rising competition, high inflation, and escalating customer acquisition costs. Despite these hurdles, the stock saw a partial recovery by the year’s end and has been consistently rising since.

Over the last one year, the company’s shares have surged by more than 24%, with an additional 11% gain in the first part of 2024.

Nykaa’s consolidated net profit jumped 50% to INR 7.8 Cr in the September quarter (Q2) of FY24 from INR 5.2 Cr in the previous year’s quarter, helped by growth across business verticals and cost control measures.

The post [Update] Lexdale International Offloads Nykaa Shares Worth INR 495 Cr appeared first on Inc42 Media.

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.

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