Nykaa share price falls over 4%

Nykaa share price declined over 4% in early trade on Thursday on reports of a major block deal in the shares. Nykaa shares fell as much as 4.5% to ₹202.25 apiece on the BSE. According to reports, Nykaa’s early investors, Harindarpal Singh Banga and Indra Banga sold 6 crore Nykaa shares, representing a 2.1% stake in the company, through a block deal. It was earlier reported by Mint that Harindarpal Singh Banga and Indra Banga will sell a 2.1% stake worth $140.3 million (approximately ₹1,200 crore) in FSN E-Commerce Ventures Ltd, the parent company of beauty and personal care company Nykaa.