Shares of Nykaa (FSN E-Commerce Ventures) will be in focus tomorrow on the back of a large block deal expected in the stock, according to a media report. A report from CNBC-TV18 quoting sources stated that Harindarpal Singh and Associates are likely to sell a 1.4% stake in Nykaa via a large block deal tomorrow, August 23. As per the latest shareholding pattern on BSE, Harindarpal and Associates held a 6.4% stake in Nykaa at the end of June quarter.
According to CNBC-TV18, the floor price for the Nykaa block deal is set at Rs 198 per share. Furthermore, the sellers will also have a 45-day lock in to sell any further shares in the company. Shares of Nykaa ended at Rs 210.42 on the NSE today. Harindarpal Singh Banga is a non-resident indian (NRI).
