Indian beauty ecommerce major Nykaa shares continue to fall after Kravis Investment Partner sold shares of Rs 629 crore
Nykaa shares continue to fall for the second session. It comes after one of its pre-IPO shareholders, Kravis Investment Partner sold shares of Rs 629 crore in the brand.
According to the media reports, shares of Nykaa closed yesterday’s session over 1 per cent lower. However, on Friday the shares were trading over 2 per cent lower at Rs 166.90. Kravis Investment had a 1.13 per cent of stake or 53.8 Lakh shares in Nykaa till September 2022.
The latest share sale by another pre-IPO investor comes a month after several of its investors, including private equity firm Lighthouse India Fund III, TPG Capital and Mala Gopal Gaonkar offloaded large amounts of stakes in Nykaa after its lock-in expired on November 10.