The shares of Fsn E-Commerce Ventures Ltd Nykaa declined by approximately 3.16 percent to end at Rs 1,040 on Wednesday. The stock will trade ex-bonus tomorrow i.e, November 10th, 2022.
Last month the board of the company approved the issuance of bonus equity shares in the ratio of 1:5. This means that the company will issue 5 bonus shares for every 1 share held as of the record date. The date has been revised to November 11 from the earlier November 03.
For instance, if an investor holds 10 shares of the company as of November 11th, they will receive a total of 50 bonus shares (5 shares Bonus X 10 Shares held) taking their total shareholding to 60 (50 bonus + 10 existing shares).
In Q2FY23, the online fashion retailer reported a consolidated net profit of Rs 5.2 crore up more than 330% as compared to Rs 1 crore in the year-ago quarter. Meanwhile, their revenue increased by more than 39% to Rs 1,230 crore up from Rs 885 crore in Q2FY22.
FSN E-commerce Ventures Ltd, also known as “Nykaa,” is a digitally native consumer technology platform that provides consumers with a content-led, lifestyle retail experience. It is the largest specialty beauty and personal care platform in India in terms of the value of products sold in FY21.
The company has a market capitalization of Rs 50,333 Crore. The promoters hold a 52.38 percent stake in the company with zero shares pledged.
Written by Anoushka Roy
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