As the one-year lock-up period for investors in the pre-initial public offering (IPO) came to an end on Thursday, shares of FSN E-Commerce Ventures, which operates beauty e-retailer Nykaa, fell 7% to Rs 166.85 on the BSE. According to exchange data, at 09:22 AM, 15.68 million equity shares were traded on the BSE counter.
The stock has also turned ex-bonus today, for its 5:1 bonus share issue i.e. five bonus shares for every one share held in the company. The board of the company had fixed Friday, November 11, 2022 as the ‘Record Date’ for the purpose of determining the members eligible for bonus equity shares.
At 10:02 am, Nykaa was trading 4 per cent lower at Rs 171.90, as compared to 0.71 per cent decline in the S&P BSE Sensex. A combined 57.35 million equity shares have changed hands on the NSE and BSE so far in trades. The names of the buyers and sellers could not be ascertained immediately.
The stock has dropped 20% during the last month, while the S&P BSE Sensex has increased by 4.5%. It was trading near its all-time low, which was reached on October 28, 2022, at Rs. 162.91 (adjusted for bonus shares).
A consumer technology platform called Nykaa, formerly known as FSN E-Commerce Ventures, offers consumers a content-driven, lifestyle shopping experience through a wide range of fashion, personal care, and beauty products, including items under their own brands.