Banga Family Trims Nykaa Bet: ₹1,284 Cr Block Deal in the Works

India’s Banga family, early backers of FSN E-Commerce Ventures Ltd (Nykaa), is preparing to offload a significant portion of its stake via a block deal valued at ₹1,284 crore. The transaction, expected to be executed at a 4–5% discount to Nykaa’s July 2 closing price of ₹211.80, will involve the sale of 16 million shares, representing nearly 2% of the company’s equity.

 

The move is part of a broader trend among pre-IPO investors seeking partial exits amid a buoyant unlisted market and renewed IPO optimism. Harindarpal Singh Banga, the shipping magnate behind the Caravel Group, and his family currently hold a sizable stake in Nykaa, which has seen a sharp rebound in valuation over the past quarter.

 

Key Highlights:

 

The block deal is pegged at $150 million (₹1,284 crore) and will be executed at a slight discount to market price.

The Banga family’s holding in Nykaa is expected to reduce by nearly 2% post-transaction.

Nykaa shares closed 2.3% higher on July 2, buoyed by investor interest ahead of the deal.

The transaction reflects renewed confidence in Nykaa’s growth trajectory, especially with SEBI’s nod for its long-awaited IPO.

Market watchers see this as a liquidity event for early investors, not a signal of waning confidence.

 

The deal underscores the growing maturity of India’s digital commerce ecosystem, where early-stage bets are now yielding blockbuster exits.

 

Sources: Moneycontrol, NDTV Profit, Economic Times