Synopsis : Early investors Harindarpal and Indra Banga are set to sell a 2.1% stake in Nykaa via a Rs 1,200-crore block deal, with Goldman Sachs and JP Morgan acting as placement agents. The sale comes as Nykaa projects steady growth in India’s discretionary spending market while eyeing 22–25% annual revenue growth.
Harindarpal Singh Banga and Indra Banga, early investors in FSN E-Commerce Ventures Limited (Nykaa), are reportedly preparing to offload a 2.1% stake in the company through a block deal estimated at Rs 1,200 crore. The floor price for the deal is set at Rs 200 per share, with around 6 crore shares expected to be sold.
According to CNBC TV18, Goldman Sachs (India) Securities and JP Morgan India Private Limited are the placement agents for this 100% secondary offer. A 45-day lock-up period will follow the transaction, restricting the sellers from making further share sales during this period.
Before Nykaa’s 2021 listing, Harindarpal Banga held an 8.7% stake, later trimming his holding in August 2024 by selling 4.09 crore shares. As of March 2025, Banga held 14.20 crore shares, equating to a 4.97% stake in Nykaa.
Nykaa, during its recent Annual Investors Day, reaffirmed its optimism over India’s lifestyle and discretionary spending sectors, outlining its ambition of achieving 22–25% annual revenue growth and a breakeven in its fashion segment by FY26. In its Q4 FY25 earnings, Nykaa reported a 110% surge in profit to Rs 19 crore and a 24% revenue increase to Rs 2,062 crore, highlighting the company’s resilience in India’s evolving beauty and lifestyle market.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Readers are advised to consult their financial advisor before making any investment decisions.
