Lighthouse will sell 335 crore worth of Nykaa shares in a block deal tomorrow

Lighthouse India is expected to sell the shares at a price range of around 180-183.5 per share, a 2% discount to the e-commerce beauty company’s last closing price on Monday.

Lighthouse India, a private equity firm, will sell 335 crore worth of shares in FSN E-Commerce Ventures, which operates Nykaa, in a block deal tomorrow. According to reports, the deal’s banker is the Bank of America Corporation.

Lighthouse India is expected to sell the shares at a price range of around 180-183.5 per share, a 2% discount to the e-commerce beauty company’s last closing price on Monday.

Nykaa shares closed at 183.50 on the NSE today, down 4.63%. The stock has dropped more than 57% from its 52-week high.

According to reports, Lighthouse will sell approximately 1.8 crore shares, or 0.65% of Nykaa’s total stake, in a block deal tomorrow.

TPG Growth sold Nykaa shares for more than 1,000 crore last Friday. A total of 5.42 crore shares of the company were sold in a block deal at a price of 184.55 per share.

Lighthouse India Fund-III recently sold 30,000,000 shares of Nykaa at an average price of 175.13 per share, for a total value of 525.39 crore.

In addition, Lighthouse India Fund III sold 96.89 lakh shares of the company at an average price of 171.75 per share.

Segantiii India Mauritius sold 33,73,243 shares at an average price of 199.24 per share on November 15.

Hermes Investment fund, a foreign investor, purchased 25,82,921 shares at an average price of 198.48 per share.

The stock of Nykaa, which will be listed in November 2021, is in the spotlight as the mandatory lock-in period for pre-offer investors ended on November 10th.

During the lock-in period, promoters and investors are unable to liquidate their pre-IPO securities. Up to 67% of Nykaa’s shareholding will be freed from lock-in.

Nykaa announced last month that its board of directors had approved the issuance of bonus equity shares in the ratio of 1:5, i.e., the company will issue a bonus of 5 shares for every 1 share held as of the record date. The firm’s board of directors later changed the record date for its bonus issue from 3 November, 2022 to 11 November, 2022.