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The shares of FSN e-Commerce Ventures Ltd., the promoter of beauty products online retailer Nykaa, declined on Wednesday after multiple block deals that have taken place in the stock over the last two sessions.

Based on the data available on the exchanges, Segantii India Mauritius sold 33.7 lakh shares of the company on Tuesday at Rs 199.24 apiece. The firm had purchased nearly 38 lakh shares at Rs 171.75 apiece last week.

Hermes Investment Funds Public Ltd. Co. Emum was the buyer in the large trade on Tuesday, purchasing 25.8 lakh shares at Rs 198.48.

Multiple large trades have taken place on Nykaa in the recent past. Foreign investors have been looking to acquire shares after the stock went ex-bonus and its pre-IPO lock-in period ended last week. Here are some large deals earlier:

Morgan Stanley bought 8,213 shares on November 11 at Rs 186.40.

Norges Bank acquired 39.81 lakh shares at Rs 173.35 apiece on November 10.

Aberdeen Standard Asia Focus fund purchased nearly 74 crore shares on November 10.

Last month, the company approved the issuance of bonus shares to its existing shareholders in the ratio of 5:1, which means that Nykaa shareholders will get 5 bonus shares for every one share they hold.

Nykaa had earlier fixed the record date for the bonus issue on November 3, but later postponed it by a week to November 11. The new record date coincides with the expiry of the lock-in period for Nykaa’s pre-IPO investors.

Also Read: Nomura expects Nykaa to take five years to reach its earlier peak

First Published:Nov 16, 2022 11:33 AM IST