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Early backers to sell 2.1% stake in Nykaa at discount
Mint Kolkata
|July 03, 2025
Nykaa plans to scale its physical footprint across tier-II, III cities, increasing store count from 237 to over 500 by FY30
Arindarpal Singh Banga, along with Indra Banga, will sell a 2.1% stake worth $140.3 million (approximately ₹1,200 crore) in beauty and personal care company Nykaa through a block deal, according to a term sheet accessed by Mint.
The Bangas, among Nykaa's earliest investors, are offloading about 60 million shares at an offer price of ₹200 per share, a 5.5% discount to the latest closing price, the term sheet showed.
FSN E-Commerce Ventures Ltd, which operates Nykaa, closed a little over 2% higher at ₹211.59 on Wednesday on the NSE. The stock has gained 28.7% so far this year.
Goldman Sachs and JP Morgan are managing the transaction. Banga, Nykaa, JP Morgan and Goldman Sachs did not immediately respond to Mint's requests for comment.
This story is from the July 03, 2025 edition of Mint Kolkata.
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