Overview

• Harindarpal and Indra Banga sold 6 crore shares at a floor price of Rs 200 per share, a 5.5% discount that valued the transaction at about Rs 1,200 crore.
• Goldman Sachs (India) Securities and JP Morgan India Private Limited served as placement agents for the 100% secondary offer.
• Nykaa’s stock slid roughly 4–5% to near Rs 201 in early trading on July 3 as investors reacted to the sizable offloading.
• The sale cut the Bangas’ combined holding from 4.97% at the end of March to about 2.87%, down from their 8.7% pre-IPO stake.
• The block deal carries a 45-day lock-up for the sellers, is subject to foreign portfolio investor limits and follows Nykaa’s 110% surge in Q4 net profit alongside its targets for mid-20% beauty and personal care growth, a FY26 fashion breakeven and Nykaa Now expansion.