Despite recent gains, FSN E-Commerce Ventures faces early sell-off as Harindarpal and Indra Banga sell 6 crore shares at a discount.
Mumbai, July 3, 2025 — Nykaa’s share price witnessed a sharp dip of over 4.5% in early trade on Thursday, falling to ₹202.25 apiece on the BSE, amid reports of a massive ₹1,200 crore block deal involving early investors Harindarpal Singh Banga and Indra Banga.
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According to a term sheet accessed by Mint, the Bangas offloaded around 6 crore shares of FSN E-Commerce Ventures Ltd, the parent company of Nykaa, at an offer price of ₹200 per share — a 5.5% discount to Wednesday’s closing price. This transaction equates to a 2.1% stake in the company.
The deal is being managed by Goldman Sachs and JP Morgan.
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Investor Background
Harindarpal Singh Banga, Chairman of Hong Kong-based Caravel Group, held an 8.7% stake in Nykaa prior to its IPO in 2021. As of March 2025, Banga owned 14.20 crore shares, accounting for 4.97% of the company. He had previously sold 4.09 crore shares in August 2024 through a bulk deal.
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Nykaa Share Performance
Despite the current correction, Nykaa stock has been on a positive trajectory:
- +4% in the last one month
- +13% in the last three months
- +23% YTD in 2025
- +16% in the past one year
- +37% in the last two years
At 9:22 AM, Nykaa was trading 4.34% lower at ₹202.60 per share on the BSE.
Market View
While the block deal may create short-term pressure on the stock, analysts note that Nykaa’s long-term fundamentals remain attractive due to its strong position in the online beauty and personal care segment.
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Nykaa Share Price, FSN E-Commerce Ventures, Harindarpal Banga, Indra Banga, Nykaa Block Deal, Nykaa Stake Sale, Nykaa Early Investors, BSE Stocks, Goldman Sachs, JP Morgan, Beauty Tech, Indian IPOs, Stock Market Today