Nykaa Block Deal Today: Banga To Offload 2.1% Stake For Rs 1,200 Cr; Floor Price & More

Block woody today: Harindarpal Singh Banga, jointly pinch Indra Banga, are looking to offload 2.1 per cent liking successful FSN E-Commerce, nan genitor institution of Nykaa, done bulk waste - by measurement of 1 aliases much stock income connected nan screen-based trading level of banal exchanges, sources told Business Today.

The projected transaction involves nan waste of up to 6 crore shares astatine a level value of Rs 200 per share, which is astatine 5.5 per cent discount to Nykaa's Wednesday's closing value of Rs 211.59  on Thursday. Goldman Sachs (India) Secuities and JP Morgan India Private Limited are nan placement agents of nan 100 per cent secondary offer. At nan level price, nan connection size stands astatine Rs 1,200 crore aliases $140.3 million. The fastener up play for nan trading statement and its affiliates is group astatine 45 days. During this period, it would beryllium restricted from offloading immoderate further shares.

Sources said location is nary assurance that immoderate bid for shares will beryllium met successful portion aliases full, principally owed to nan operational mechanics and nan screen-based system of nan banal exchanges. Any allocation to overseas portfolio investors is taxable to headroom disposable for acquisition of equity shares of nan institution by specified investors, arsenic per nan finance limits prescribed nether applicable laws.  

Harindarpal Singh Banga held 14,20,00,000 shares aliases 4.97 per cent liking successful Nykaa arsenic of March 31. 

Nykaa precocious held an Analyst Day, outlining its strategical plans crossed various segments. In nan beauty and individual attraction (BPC) category, nan institution is targeting astir 25 per cent GMV CAGR complete FY25–30, driven by accrued marketplace penetration and premiumisation. Its two-hour transportation service, Nykaa Now, aimed astatine countering speedy commerce, is presently unrecorded crossed complete 40 stores successful 7 cities. The scale-up of this inaugural and its effect connected profitability will beryllium intimately monitored.

In nan manner segment, Nykaa intends to turn GMV by 3–4 times by FY30, pinch an EBITDA breakeven target by FY26 and a extremity of reaching mid-to-high single-digit Ebitda margins by FY28. The House of Nykaa beauty portfolio is expected to standard to Rs 6,000 crore successful GMV by FY30, implying a GMV CAGR of astir 30 per cent.

ICICI Securities has ADD standing connected nan banal pinch a target value of Rs 230.

"Our DCF-based target of Rs 216 astatine Jun-26F factors successful a 16 per cent gross CAGR complete FY25-40F, pinch semipermanent Ebitda separator stabilizing astatine 14%. The banal presently trades astatine 5 times FY26F EV/sales, which we judge is successful nan adjacent worth zone," Nomura India said.
 

Published on: Jul 3, 2025 7:59 AM IST