Nykaa Stock: Another blow to this company, CFO resigns

Shares of FSN E-Commerce Ventures, the parent company of beauty fashion e-retailer Nykaa, continued to slide. The stock had closed down 4.5 per cent on Tuesday. The fall in the stock came on the news of a block deal by private equity firm Lighthouse India. It is being said that Lighthouse India is preparing to […]
 


Nykaa Stock: Another blow to this company, CFO resigns

Shares of FSN E-Commerce Ventures, the parent company of beauty fashion e-retailer Nykaa, continued to slide. The stock had closed down 4.5 per cent on Tuesday. The fall in the stock came on the news of a block deal by private equity firm Lighthouse India. It is being said that Lighthouse India is preparing to sell 1.8 crore shares of Nayak.

After this news, investors are continuously exiting by selling the shares of the company. As of November 12, Lighthouse India held 2.04 per cent stake in Nykaa. The company now has Rs. 320 crore shares are being sold. Meanwhile, CFO of Nykaa Company Arvind Agarwal has resigned. The company has given this information in a regulatory filing. Arvind Agarwal joined Nayak in July 2020. Earlier he was working in Amazon.

As per the report, it is expected that Nykaa shares will reach Rs. Can be sold in the price band of 180-183.5. Investors are continuously exiting Nykaa stock after the pre-IPO investor lock-in period is over. Shares of Nykaa closed at Rs 174.95, down 4.66 per cent on Tuesday. Nykaa stock opened at Rs 186 and touched a high of Rs 187.25. But after this the stock fell to Rs 174.50. Earlier on Monday too, Nykaa’s stock fell by 4 per cent.

Nykaa’s shares got listed strongly in November last year. Investors are continuously exiting the stock after the lock-in period is over. In fact, about 67 per cent of the company’s shares were locked-in. The company had indicated that sales would pick up after the end of the lock-in period. Last week, American investor Mala Gopal Gaonkar invested Rs. Shares worth 1,009 crore were sold. Earlier, Lighthouse India Fund III traded in bulk deals of Rs. Sold 30 million shares of FSN E Commerce Ventures (Nykaa) for Rs 525.39 crore. Nykaa is an online marketplace for beauty and wellness products.

Paytm shares fall 11% below Rs 500, down 78% from IPO price level

Paytm Share Crash: Paytm’s stock declined in Tuesday’s trading session. This is the first time that Paytm stock has fallen below Rs 500. The company had brought an IPO in November 2021 at a price of Rs 2150 per share. But Rs. 2150 shares fell 78% from the issue price to Rs. 477 level has been reached.

first time 500 went below Rs.

When the stock market opened in the morning, the stock of Paytm opened at Rs.535. But within no time the share rose to Rs. 500 level will break Rs. It fell over 11 per cent to a record low of 477. The market cap of Paytm has also come down to Rs 31,363 crore.