Nykaa extends fall on listing of bonus shares; stock slips 17% in two days

Shares of Nykaa parent FSN E-Commerce Ventures slipped 9 per cent to Rs 175 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes after nearly 2,374 million bonus equity shares got listed with effect from today.

In the past two trading days, the stock has slipped 17 per cent.

At 09:21 am; shares of Nykaa were trading 4 per cent lower at Rs 184.25 as compared to a 0.19 per cent decline in the S&P BSE Sensex. A combined 39.4 million shares changed hands on the counter on the BSE and NSE. At 09:15 am; around 30.62 million shares changed hands on the BSE, the exchange data showed.

New securities of FSN E-Commerce Ventures are listed and permitted to trade on the exchange with effect from Wednesday, November 16, 2022, BSE said in a notice on Tuesday. The company allotted 2,37,35,63,075 bonus equity of Re 1 each on November 12, 2022.

The stock had gained 13 per cent after it turned ex-bonus on November 10 for its 5:1 bonus share issue. The board of the company had fixed Friday, November 11, 2022 as the 'Record Date' for the purpose of determining the members eligible for bonus equity shares.

In the past one year, the stock has declined 51 per cent as compared to a 1.7 per cent rise in the S&P BSE Sensex. It had hit a record low of Rs 162.59 (adjusted to bonus shares), on October 28, 2022.

FSN E-Commerce Ventures, more commonly known as Nykaa, is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers through its diverse portfolio of beauty, personal care & fashion products including their own brand products.