India's Nykaa falls after reports Banga family to sell 2% stake at discount

Fsn E-Commerce Ventures

03/07/2025 05:58

** India's Nykaa FSNE.NS falls nearly 5% to 201.5 rupees; on course for biggest daily pct losses in a month

** Banga family, one of the early investors in FSNE, to sell 2% stake for $140.3 million via block deal at 5.5% discount to Wednesday's closing price, per multiple news reports

** FSNE did not immediately respond to a Reuters request for comment

** More than 32 million shares traded, ~3.5x six-month average daily volume

** Harindarpal Singh Banga holds 4.97% stake in FSNE as of quarter ended March, exchange data shows

** Reuters was unable to reach Banga immediately

** YTD, FSNE up 23%

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))