Lexdale International Sells Rs 495 Crore Worth Shares in Nykaa’s parent company FSN E-Commerce Ventures

Foreign investor Lexdale International has successfully divested its holdings in FSN E-Commerce Ventures, the parent company of popular retailer Nykaa. In an open market transaction, Lexdale International offloaded over 2.62 crore shares, constituting a 0.9 percent stake in FSN E-Commerce Ventures.

The bulk deal data available with the BSE reveals that Lexdale International executed the sale at an average price of Rs 188.83 per share, resulting in a total transaction value of Rs 495.44 crore. Notably, details regarding the buyers remain undisclosed at this time.

Following the transaction, shares of FSN E-Commerce Ventures experienced a decline of 3.15 percent, concluding the trading session at Rs 187.60 per share on the BSE.

In November of the previous year, FSN E-Commerce Ventures reported a noteworthy 50 percent surge in its consolidated net profit, amounting to Rs 7.8 crore. Additionally, the company witnessed a robust 22.4 percent increase in consolidated revenue from operations, reaching Rs 1,507 crore in the September quarter.