TPG Capital, an American investment firm, is expected to sell 1,000 crore shares of FSN E-Commerce Ventures, which operates under the Nykaa brand, in a block deal on Friday.
According to the NSE morning block deal window prior to Friday’s opening trade, 5.42 crore equity shares of Nykaa were traded at an average price of Rs 184.55 each. The offer represents a 0.6 per cent discount from Thursday’s closing price of Rs 185.60 per share.
TPG’s second large trade in Nykaa follows the expiry of its lock-in period for pre-IPO investors on November 10th. On November 11, the American private equity investor sold 1.08 crore equity shares at Rs 186.40 per share, for a total transaction value of Rs 202.1 crore.
During the lock-in period, promoters and investors are unable to liquidate their pre-IPO securities.
There have been several bulk deals in Nykaa since the lock-in expired.
Nykaa stock has been under pressure since lock-up expired last week. The company’s stock dropped 4 per cent to 171 at the day’s low, bringing the four-day loss to around 20 per cent.
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