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Harindarpal Singh to sell 1.4% of Nykaa at ₹198 per share, a 6% discount. Post-sale, his stake reduces to 5%. In the previous trading session, Nykaa share price closed at ₹209.90, marking a 55.19% gain over the past 12 months.
Harindarpal Singh and Associates plan to sell up to 1.4% of their stake in Fsn E-Commerce Ventures Limited (Nykaa), one of India's leading beauty and wellness e-commerce platforms. The transaction will be facilitated by financial giants JPMorgan Chase & Co. (JPM) and Goldman Sachs (GS).
The shares will be offered at a floor price of ₹198 each, which represents a 6% discount compared to Nykaa’s last closing price of ₹209.90 on Thursday. This sale is expected to reduce Harindarpal Singh's stake from 6.4% to approximately 5%.
The sale is anticipated to influence Nykaa's stock liquidity and market dynamics. Given the 6% discount on the floor price, the Nykaa share price may experience volatility as the market adjusts to this divestment.
Post-transaction, a 45-day lock-up period will be in effect, restricting further sales of the shares during this time. This move is likely designed to stabilise the stock price following the block deal.
Nykaa's share price recently closed at ₹209.90, reflecting a slight decrease of ₹0.89 or 0.42% on the NSE. Despite this, the stock has demonstrated strong performance over the past year, delivering a return of 55.19% and gaining ₹74.65 in value.
The planned sale by Harindarpal Singh and Associates could have broader implications for Nykaa's market dynamics. Investors will be closely monitoring the impact on Nykaa's share price and liquidity in the coming days, especially given the involvement of prominent financial institutions in the transaction.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
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