As many as 1.4 crore shares or 0.5 percent of FSN E-Commerce Ventures Ltd., the parent company of fashion e-tailer Nykaa exchanged hands in a large trade on Thursday.

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The shares were sold at Rs 152.30 a piece, which is at a discount from Wednesday's closing price of Rs 155.1. Based on the price, the transaction is valued at Rs 217 crore. Citigroup Global Markets India is the bookrunner to this transaction.

While details of the seller are unclear, the entity is a non-affiliate, non-promoter vendor.

Last month, 3.7 crore shares of Nykaa or 1.5 percent of the total equity had exchanged hands in a large trade. Prior to that trade, Lighthouse India had initiated a clean out trade in the company, selling 1.8 crore shares or 0.65 percent of the total equity worth Rs 320 crore.

Multiple investors have sold stake in Nykaa through large deals since the lock-in period of the company ended on November 10 last year, freeing up 310 million shares for a potential sale.

Amidst all of this, the company also announced a bonus issue of 5 shares for every one held by investors. The stock has been on the downtrend even after the bonus issues listed for trading.

Shares of Nykaa are down 11 percent over the last month and have halved over a 12-month period.

First Published:Jan 12, 2023 7:58 AM IST