Lexdale Offloads Rs 490 Crore in Nykaa: 2.62 Crore Shares to Go in Bulk Transaction

12 Jan 2024 , 10:06 AM

According to sources who spoke with CNBC Awaaz, Lexdale International is most likely to sell 2.62 lakh Nykaa shares through a block offer for a total deal value of Rs 490 crore. The deal will be managed by JP Morgan and Morgan Stanley.

The parent company of Nykaa, FSN E-commerce, said earlier in the month that, despite some impact on discretionary consumption from short-term challenges, it observed sustained growth across its three business verticals in the December quarter.

Nykaa also anticipates that its Beauty and Personal Care (BPC) vertical would post a mid-20s GMV (Gross Merchandise Value) growth for the October–December quarter, and a 20–20% yearly growth in Net Sales Value.

The business claimed that its BPC growth outpaced the industry as a whole. The company did note that despite the industry growth falling short of its long-term trajectory, it should soon return to the median due to favourable macroeconomic and demographic trends.

The company predicts that the aggregate NSV of all BPC enterprises will grow, year over year, at a rate between low and mid-twenties. Regarding the fashion vertical, it is anticipated that NSV growth will be in the low thirties and GMV growth would be approximately 40%.

For the quarter, Nykaa anticipates that its revenue will increase on a year-over-year basis in the low 20s and its NSV to climb in the mid-20s at the consolidated level.

Nykaa is a potential addition to the MSCI Standard index in the event that stock prices rise by 8–20%.

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