Over 2.6 crore shares or just under 1 per cent of FSN E-Commerce Ventures changes hands on the BSE in early trades for a value of ₹493 crore.
The seller was Lexdale International which was to pare stakes in the company, which operates beauty and fashion retailer Nykaa. The deal on the block deal window of the exchange was done at ₹189.65.
In the quarter to December, the company had said that it expected consolidated sales of its business to have grown at low to mid teens.
The gross merchandise value (GMV) of its beauty and personal care business is expected to have grown in the mid-20s and the net sales value (NSV) around 20 per cent. It added that while the overall consumption story was strong in the economy, there was some impact on discretionary consumption due to short term pressures.
“The difference in GMV and NSV growth is primarily due to brand led pricing and discounting, mainly in mass and masstige categories. The underlying order volume growth is healthy and consistent, reflecting strong customer demand,” it had said.
Shares of Nykaa have risen around 10 per cent so far this year. At 9.50 am it was down 1.3 per cent at ₹191.20 on the NSE.