Nykaa won when 54 million shares changed hands in two block trades.

 

Nykaa won when 54 million shares changed hands in two block trades.

 

On Thursday, Citigroup agreed to sell shares in the popular jewellery retailer worth Rs 1,000 crore on behalf of TPG Capital in a block deal.

 

 

Shares of FSN E-Commerce Ventures, which operates Nykaa, recorded two transactions on Friday in which about 54.2 million shares, or 1.9% of the company's capital, changed hands, according to Bloomberg. The contact details of buyers and sellers are unknown.

Stocks opened higher after the block deal. It increased by up to 4% to Rs 192.75 per share.

 

Citigroup entered into a block deal on Thursday to sell shares in the popular jewellery retailer worth Rs 1,000 crore on behalf of TPG Capital. The deal offered a discount of up to 0.5% off the current market price.

 

Since the company's pre-IPO issuance ended on Nov. 9, investors have lost their assets. Top investors like Narotam S Sekhsaria and Mala Gaonkar and PE/VC funds like Lighthouse India have sold some of their holdings in the company.

 

On November 11, TPG Growth also sold a total of 1,08,43,050 shares at an average price of Rs 186.4 each, making today's trade the second sale. As of September 30, he owned 2.28% of the company's capital.