Citigroup has launched a block deal to sell shares of cosmetics-to-fashion retailer Nykaa worth Rs 1,000 crore ($125 million), reported CNBC Awaaz.
This comes days after the lock-in expiry for pre-IPO investors in the cosmetics-to-fashion company came to an end. The lock-in period for Nykaa shares expired on November 10. During the lock-in period, promoters and investors cannot liquidate the pre-IPO securities held by them.
American private equity firm TPG Capital is the seller in the block deal, and the deal provides a discount of up to 0.5 per cent from the going rate. On November 17, Nykaa's shares on the