Lexdale International Offloads Nykaa's Shares Worth Rs 495 Crore

Foreign investor Lexdale International on Friday offloaded shares of FSN E-Commerce Ventures, parent company of cosmetics-to-fashion retailer Nykaa, for Rs 495 crore through an open market transaction.

According to bulk deal data available with the BSE, Lexdale International sold more than 2.62 crore shares, amounting to a 0.9% stake in FSN E-Commerce Ventures.

The shares were disposed of at an average of Rs 188.83 apiece, taking the transaction value to Rs 495.44 crore.

Details of the buyers could not be ascertained.

Shares of FSN E-Commerce Ventures declined 3.15% to close at Rs 187.60 apiece on the BSE.

In November last year, FSN e-Commerce Ventures, reported a 50% increase in consolidated net profit to Rs 7.8 crore.

Its consolidated revenue from operations rose 22.4% to Rs 1,507 crore in the September quarter.