Nykaa’s board announced on Wednesday, September 28, that they might seek the shareholders’ approval through a postal ballot and other approvals for the share issue.
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The board of FSN E-Commerce Ventures, the parent company of e-commerce brand Nykaa, has announced five bonus shares for each share shareholders hold, the company informed the stock exchanges. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.
After the announcement, at 11:24 am, shares of FSN E-Commerce Ventures were trading at Rs 1,372, up by 7.85 percent from the previous close on the BSE. Nykaa shares are down more than 34.24 percent in 2022 (year-to-date) so far.
Nykaa’s board said they would seek shareholders’ approval through a postal ballot and other approvals for the share issue. It fixed November 3 as the record date for determining members eligible for the bonus equity shares.
The parent company of beauty brand Nykaa and fashion retailer Nykaa Fashion in its April-June quarter, reported a 42.24 percent increase in consolidated profit at Rs 5.01 crore as compared to the corresponding period a year ago, aided by better topline and operating performance.
Nykaa, founded in 2012 by former investment banker Falguni Nayar, has a diverse portfolio of beauty, personnel care and fashion products. The company's shares were listed on stock exchanges BSE and NSE in November last year.
Nykaa's initial public offering (IPO) was subscribed 81.78 times on the last day of subscription that closed on November 1, 2022, mainly helped by huge interest from institutional investors.
First Published: IST