Nykaa's board to consider issuance of bonus shares on October 3rd

29 Sept 2022 , 03:13 PM

The issuing of bonus shares to shareholders will be discussed at a board of directors meeting on October 3 and approved at that time, according to a regulatory filing made on September 28 by FSN E-Commerce Ventures, the parent company of Nykaa.

For the share issue, the board may ask the shareholders' consent by postal ballot and other means. Bonus shares are additional, fully paid equity shares that a corporation issues to its current shareholders.

The introduction of the "Nykaa Chair in Consumer Technology" as a result of Nykaa's collaboration with the Indian Institute of Management Ahmedabad (IIMA) made headlines on September 27. The business hopes to create research solutions for consumer technology through this.

FSN E-Commerce Ventures had a stellar launch as the stock debuted on November 10 of last year with a gigantic 79 % premium. The share's opening price on the BSE was Rs2,001, while the NSE's listing price was Rs2,018.

Massive demand resulted in 81.78 times subscriptions for the Rs5,352 crore public offering between October 28 and November 1, with bids for 216.59 crore equity shares received versus the offered size of 2.64 crore shares. Shares of FSN E-commerce closed at Rs1,283.50 per share on September 28 on the BSE, down 0.32 % (or 4.15 points).

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