Shares of FSN E-Commerce Ventures, the parent company of beauty and fashion retailer Nykaa, fell 4% in early trading on Thursday, July 3, following a significant block deal involving the sale of approximately 6 crore shares—representing around 2.3% of the company’s total equity. At 9:20 a.m., the stock was trading at ₹203.15 on the NSE.
Sources reveal that the block deal was led by the Banga family, including shipping magnate Harindarpal Singh Banga, who sold nearly 2% of their stake in Nykaa. The family, once early backers of the startup, has now reduced its holding from around 5% to between 2–2.5%.
The Banga family first invested in Nykaa in 2014, when the company was valued at just $20 million. Today, Nykaa is valued at approximately $700 million, making their early investment significantly profitable. In 2024 alone, the family sold shares worth ₹809 crore at an average price of ₹198 per share.
Despite the block deal, Nykaa continues to report strong business performance. In Q4 FY25, the company posted ₹2,062 crore in consolidated revenue (up 23.6% YoY) and a profit of ₹20.28 crore. By 1:35 p.m., the stock was down 3.93% from the previous close.
Shares of Nykaa (FSN E-Commerce Ventures) declined by over 4% on July 3 after a block deal involving the sale of about 6 crore shares, or 2.3% of the company’s total equity. At 9:20 a.m., the stock was trading at ₹203.15 on the NSE, reflecting investor response to the large transaction.
According to sources, the Banga family—led by Harindarpal Singh Banga, chairman of The Caravel Group—offloaded close to 2% of their stake in Nykaa. This sale marks a significant reduction in their holdings, which previously stood at nearly 5%. After the latest transaction, the family retains between 2% and 2.5% of the company.
The Banga family were among Nykaa’s earliest investors, backing the company in 2014 when its valuation was just $20 million. Over the years, they have gradually reduced their stake, including a major sale in 2024 worth ₹809 crore at ₹198 per share.
Nykaa, despite this offloading, has shown resilience in business performance. For Q4 FY25, it reported consolidated revenue of ₹2,062 crore—up 23.6% year-on-year—and a net profit of ₹20.28 crore.
As of March 2025, Nykaa’s promoter group held 52.2% stake, with foreign and domestic institutions owning 8.8% and 25.2% respectively. Public shareholders owned the remaining 13.8%.
