Bangas to promote 2.1% Nykaa stake value $140.3 million through block deal

Mumbai: Harindarpal Singh Banga, together with Indra Banga, will promote a 2.1% stake value $140.3 million (roughly ₹1,200 crore) in magnificence and private care firm Nykaa via a block deal, based on a time period sheet accessed by Mint.

The Bangas, amongst Nykaa’s earliest traders, are offloading about 60 million shares at a suggestion value of ₹200 per share, a 5.5% low cost to the newest closing value, the time period sheet confirmed.

FSN E-Commerce Ventures Ltd, which operates Nykaa, closed a bit of over 2% larger at ₹211.59 on Wednesday on the Nationwide Inventory Trade. The inventory has gained 28.7% to this point this 12 months.

Goldman Sachs and JP Morgan are managing the transaction. Banga, Nykaa, JP Morgan, and Goldman Sachs didn’t instantly reply to Mint’s requests for remark.

Banga, a commodities billionaire and chairman of Hong Kong-based Caravel Group, held an 8.7% stake in Nykaa earlier than it listed in 2021. The Nayar household, who based the corporate, nonetheless owns 52% and has not offered any shares because the IPO.

This newest sale comes almost a 12 months after Banga divested over 4 crore shares—amounting to a 1.43% stake—at ₹208.30 apiece in August 2024, netting ₹851.5 crore. Following that transaction, his holding fell from 6.40% to 4.97%.

For the quarter ended 31 March, Nykaa reported a close to three-fold soar in consolidated web revenue to ₹20.28 crore from ₹6.93 crore a 12 months earlier. Income from operations rose 23.61% to ₹2,061.76 crore from ₹1,667.98 crore in FY24.

Over the previous 12 months, the corporate has launched a file variety of international magnificence manufacturers, forging partnerships with Yves Saint Laurent, NARS, Kerastase, Eucerin, GHD, Armani Magnificence, Supergoop, and Nexxus, amongst others.

Nykaa is now shifting towards a extra worthwhile development trajectory, aiming for mid-20% annual development in its magnificence and private care (BPC) enterprise over the following 5 years. The technique consists of deeper market penetration, premiumization, and enhanced comfort.

The corporate plans to scale its bodily footprint throughout tier 2 and three cities, growing retailer rely from 237 to over 500 by FY30. It is usually investing closely in regional influencer advertising, working with over 28,000 influencers to drive discovery.

To enhance supply speeds, Nykaa is ramping up its logistics infrastructure. Its two-hour fulfilment mannequin, ‘Nykaa Now’, is stay in seven metros. That is supported by a community of 44 warehouses and 40+ speedy hubs, enabling same- or next-day supply in key cities.