Lexdale International is likely to sell 2.62 crore of Nykaa shares via a block deal at a total deal value of Rs 490 crore, sources told CNBC Awaaz. Morgan Stanley and JP Morgan will manage the deal.
Earlier in the month, FSN E-commerce, parent company of Nykaa, said it saw consistent growth across its three business verticals in the December quarter even as some impact on discretionary consumption was seen due to short-term pressures.
Nykaa also expects its Beauty and Personal Care (BPC) vertical to report a GMV (Gross Merchandise Value) growth in the mid-20s for the October-December quarter, while Net Sales Value growth to be around 20 percent on an year-on-year basis.
The company said its BPC growth was ahead of that for the overall industry. However, the firm said industry growth slipped below long-term trajectory but should revert to the median in the near to mid-term, given the strong macroeconomic and demographic outlook.
The firm has forecast its combined NSV of all BPC businesses to grow at low to mid-twenties on a YoY basis. As for the fashion vertical, GMV growth is likely to be around 40 percent while NSV growth is expected in the low thirties.
For the quarter , at a consolidated level, Nykaa expects its NSV to grow in the mid-twenties and revenue to grow in the low twenties on a YoY basis.
Nykaa is also a candidate to be included in the MSCI Standard index if the stocks rally between 8-20 percent.
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