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Courtesy: Nykaa

Lighthouse India to sell ₹320 crore stake in Nykaa

In a recent development from the Indian capital market, Lighthouse India, a private equity firm has decided to sell 320 crore rupees worth of stake in the parent company of Nykaa, FSN E-Commerce Ventures Ltd. Nykaa based in Mumbai is one of the leading e-commerce companies in India which focusses on selling beauty and wellness related products.

News reports suggest that Lighthouse India is planning to sell its stake in FSN E-Commerce Ventures Ltd via block deals at a price of Rs 180-183.5 apiece. The price at which shares are offered by Lighthouse India is nearly 2 percent lesser than the last closing price of FSN E-Commerce Ventures Ltd.

Falguni Nayar, CEO of Nykaa
Falguni Nayar, CEO of Nykaa

A CNBC Awaaz report on November 21 stated that the private equity firm will offload nearly 1.8 crore shares or 0.65 percent of Nykaa’s stake in the block trade. North Carolina-based Bank of America is appointed as the broker for block deals.

Lighthouse India is offloading shares in FSN E-Commerce Ventures Ltd for the third time in the past month. Lighthouse India Fund III last Wednesday sold three crore shares of Nykaa for an average price of Rs 175.13 per share. The shares which were sold by Lighthouse India were worth 525.39 crores.

On 10th November 2022, the same Lighthouse India Fund III sold 96,89,240 shares of Nykaa at an average price of Rs 171.75 per share.

Nykaa’s lock-in period ended on November 10, allowing promoters and investors to liquidate the pre-IPO securities held by them. The shares also turned ex-bonus last Thursday.  Almost 67 percent of Nykaa’s shareholding was released from a lock-in at the end of the restricted period.

Last Tuesday, Segantii India Mauritius sold 33,73,243 Nykaa shares at Rs 199.34 a piece. It bought 37,92,489 Nykaa shares at an average price of Rs 171.75 on November 10.

Société Générale (26,30,000 shares) and Morgan Stanley Asia Singapore (82,13,050 shares) bought Nykaa shares on November 11 at an average price of Rs 186.40 each. TPG Growth IV SF PTE was the seller. TPG Growth sold 1,08,43,050 shares the same day at Rs 186.40 apiece.