Nykaa suffers 8% dip ahead as lock-in period expires on Nov 10
Shares of FSN E-Commerce Ventures Ltd, the Nykaa parent, slid up to 8 per cent on the bourses as nervousness crept in ahead of the expiry of the lock-in period for its pre-IPO investors.
The Nykaa share ended 4.91 per cent or Rs 55.55 lower at Rs 1,076.15 on the BSE and 8.13 per cent or Rs 92 lower at Rs 1,040.10 on the NSE.
As many as 31 crore shares of FSN, or more than 64 per cent of the company’s shareholding, will be released from the lock-in restrictions on November 10.
Markets fear that some investors could offload the shares of the company. TPG Growth, Lighthouse India Fund, Steadview Capital Mauritius and high net worth individuals such as H.S. Banga, and Sunil Kant Munjal are some of the investors who will reportedly be eligible to sell their shareholding.