Business strategy

TPG Capital Sells Shares Worth Rs 1,000 cr; Nykaa Shares Surge

Nykaa Share Price: American investment company TPG Capital has sold 5.4 crore shares or 1.9 per cent equity of FSN E-Commerce Ventures, the parent company of fashion and cosmetic e-retailer Nykaa, in a block deal on Friday. Citigroup was the appointed banker for the deal.

The development comes days after the lock-in expiry for pre-IPO investors in Nykaa came to an end. The lock-in period of the cosmetics-to-fashion retailer shares expired on 10 November. The promoters and investors cannot liquidate the pre-IPO securities held by them during the lock-in period.

Since the lock-in expiry, there have been multiple bulk deals in Nykaa.

Earlier this week, the shares of the online retailer changed hands in multiple block deals. According to the exchange data, Segantii India Mauritius sold 33.7 lakh shares of the company on Tuesday while, Hermes Investment Funds Public Ltd Co Emum was the buyer in the large trade, purchasing 25.8 lakh shares.

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