Nykaa jumps 6% amid Rs 1,001 crore worth block deal; TGP Capital likely seller

Shares of FSN E-Commerce Ventures (Nykaa) climbed 6 per cent in Friday's trade despite a block deal worth Rs 1,000.54 crore. The block deal was seen a day after Mala Gopal Gaonkar sold Rs 1,009 crore worth Nykaa shares in a bulk deal on BSE. 

According to reports, US private equity firm TPG Capital was looking to sell shares of Nykaa operator FSN E-Commerce worth Rs 1,000 crore through a block deal today.  A total of 5,42,15,250 shares changed hands in a block today, NSE data showed.

The stock rose 5.98 per cent to hit a high of Rs 196.65 on BSE. The one year lock-in period for Nykaa pre-IPO shareholders got expired last week on Thursday. The scrip also turned ex-bonus the same day. Since then, the  scrip is seeing heavy turnover.

Citigroup was said to be the banker to the TGP deal.  TPG Capital was expected to sell the shares at Rs 184.55, a 0.6 per cent. discount to Thursday’s close price of Rs 185.60, as per media reports.

Earlier on Thursday, Mala Gopal Gaonkar sold 5.75 crore Nykaa shares at an average of Rs 175.48 per share while Canada Pension Plan Investment Board bought 1.7 crore Nykaa shares worth Rs 299.35 crore at Rs 175.25 apiece, data showed.

Earlier on Wednesday, Lighthouse India Fund III had sold three crore FSN E Commerce Ventures (Nykaa) worth Rs 525.39 crore in a bulk deal. The shares were sold at an average price of Rs 175.13 apiece.

The same fund had sold 96,89,240 Nykaa shares on November 10 at an average price of Rs 171.75 per share. Nykaa stock fell 4.69 per cent to close at Rs 183.05 on NSE. It settled at Rs 184.50 on BSE, down 3.91 per cent.

The one year lock-in period for Nykaa pre-IPO shareholders got expired last week on Thursday. The scrip also turned ex-bonus the same day. Since then, the  scrip is seeing heavy turnover.

On Tuesday, Segantii India Mauritius sold 33,73,243 Nykaa shares at Rs 199.34 a piece. It had 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.

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