
Nykaa shares fall 15% in four sessions; hits fresh all-time low
Nykaa share price declined 5.5% to hit a fresh all-time low of ₹132.55 in intraday trade on the BSE.
Nykaa share price declined 5.5% to hit a fresh all-time low of ₹132.55 in intraday trade on the BSE.
Newly-listed start-ups do well in stock markets but will have to turn profits to justify their multibillion-dollar valuations.
Nykaa share price has fallen over 13% in three sessions as pre-IPO investors pressed the sell button soon after the company issued bonus shares.
Private equity firm Lighthouse India sold shares worth ₹320 crore of Nykaa via block deal at a price band of ₹180-₹183.50 per share.
Several foreign funds including Segantiii India Mauritius, Lighthouse India Fund, and Citigroup have sold their stake in Nykaa after the pre-IPO lock-in period expired on November 10.
The largecap stock witnessed sharp selling today as investors were waiting for the listing of bonus shares after the lock-in period ended on November 10.
The lock-in period of Nykaa expires today, while those of PB Fintech, Paytm, Sigachi Industries, SJS Enterprises, and Sapphire Foods end next week.
The lock-in period for Nykaa share expires today, which means promoters and investors can liquidate their pre-IPO stocks owned by them.
On a sequential basis, Nykaa’s profit grew by 3.6%, while revenue rose 7%; stock jumped 25% in two sessions on earnings optimism
The counter has delivered a negative return of 35% in the calendar year 2022, while it has fallen 24% in the past six months.