Lighthouse India sells 1.8 crore shares of Nykaa via block deal

1.8 crore shares of FSN E-Commerce Ventures Ltd changed hands on Tuesday in a block deal. Private equity firm Lighthouse India is likely the seller.

wealth desk

To buy to sell FSN E-Co Nykaa to share

On Tuesday, 1.8 crore shares of FSN E-Commerce Ventures Ltd, the parent company of online retailer Nykaa, changed hands in the block deal window. Lighthouse India is probably the seller. It was previously reported that the private equity firm is likely to sell 1.8 crore shares or 0.65% stake worth Rs 320 crore in FSN E-Commerce Ventures via a block deal. Bank of America was selected as broker for the transaction.

Shares of the fashionable beauty e-tailer fell after the block deal. FSN E-Commerce Ventures Ltd stock traded 3% lower at Rs 178 on BSE at 09:32.

Karan Taurani, SVP-Research Analyst, Elara Securities gives a buy rating on Nykaa for a target price of Rs 240. they really want the premium product. And they basically want the authenticity of the product. So that’s one of the growth rates of BPC,” Taurani told CNBC-TV18.

“We’re going to see higher ad revenue, as well as an increased share in terms of private label. Based on those three, four things, I think there’s enough wiggle room and space here. for revenue growth of around 25-30% for the next three years, with consistent margin improvement,” Taurani added.

The only risk factor for Nykaa, according to Taurani, is the fashion industry. “I think this segment is very competitive, too many discounts. So I think that’s the only controllable thing in terms of mode losses going down or probably the business breaking even.”

Nykaa’s pre-IPO lock-up period expired on November 10. Recently, shares of the online retailer changed hands in several block deals. US investment firm TPG Capital sold 5.4 crore shares or 1.9% stake in Nykaa in a block deal on Friday.

Earlier, Segantii India Mauritius sold 33.7 lakh shares of the company on November 15. Hermes Investment Funds Public Ltd Co Emum has purchased 25.8 lakh shares of the company.

On November 11, Morgan Stanley bought 8,213 shares of Nykaa at Rs 186.40. Norges Bank acquired 39.81 lakh of shares at Rs 173.35 each on Nov. 10 and Aberdeen Standard Asia Focus fund bought nearly 74 crore of shares.

First post: STI


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