Banga family sells 2.1 pc stake in Nykaa for Rs 1,213 cr
New Delhi: Harindarpal Singh Banga and his wife Indra Banga on Thursday divested a 2.1 per cent stake in FSN E-Commerce Ventures, the parent company of fashion and beauty retailer Nykaa, through bulk deals worth Rs 1,213 crore.
Following the stake sale, shares of Nykaa declined by 4 per cent to Rs 203.50 apiece on the BSE, and by 3.82 per cent to Rs 203.50 per piece on the NSE.
Harindarpal Singh is a commodities billionaire and Chairman and CEO of Hong Kong-based Caravel Group. Banga was an early investor in Nykaa, which went public in 2021.
