Nykaa's early investor, Harindarpal Singh Banga, offloaded over 4 crore shares worth INR 851.5 crore on August 23, reducing his holding to 14.2 crore shares.
The shares, sold at INR 198 each, were picked up by institutional investors, including Goldman Sachs and SBI Mutual Fund. This marks Banga's second major sale this quarter, following a similar move by the Canada Pension Plan Investment Board. Nykaa's stock has surged 29% year-to-date, fueled by strong Q1 performance, and reached a 52-week high of INR 228.5 on August 21.