Block deals worth Crores were executed on BSE after institutional investors traded shares of FSN E-Commerce Ventures Ltd Nykaa. Kravis Investment Partners sold its entire stake of 1.13 per cent or 3.67 crore shares of FSN E-Commerce Ventures for around Rs 629 crore through open market transactions on December 15th.
As per the data available on BSE, the buyers include Canada Pension Plan Investment Board, ICICI Prudential Life Insurance Company Ltd, Goldman Sachs, and Mirae Asset Mutual Fund.
Goldman Sachs (Singapore) PTE – ODI acquired 64,58,775 shares while Goldman Sachs Investment Mauritius Limited bought 64,58,774 shares at Rs 171 per unit. In addition to that, Canada Pension Plan Investment Board purchased 92,50,000 shares of the company at a price of Rs 171 per share while ICICI Prudential Life Insurance Company Ltd purchased 87,70,000 shares in open market deals.
The shares of Fsn E-Commerce Ventures Ltd were trading 2 percent lower till the afternoon on Friday at Rs 167 levels. The stock has been on a downward trend since the time of its listing last year and has shed more than 50 percent.
FSN E-commerce Ventures Ltd popularly known as “Nykaa” is a digitally native consumer technology platform that delivers a content-led, lifestyle retail experience to consumers.
In Q2FY23, the company reported a total revenue of Rs 1,230.83 Crore which was an increase of 39 percent Year on Year from Rs 885.26 Crore. In the previous quarter, their revenue stood at Rs 1,148.42 Crore.
In this period, the company saw a multifold jump in its net profit which stood at Rs 5.65 Crore up from Rs 1.17 Crore in Q2FY22. On a sequential basis, their net profit stood at Rs 5.69 Crore.
Written by Anoushka Roy
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