CPPIB sold the shares at INR 174.04 apiece, translating to a total deal size of over INR 256 Cr The shares sold by Nykaa were lapped up by ICICI Prudential Mutual Fund India CPPIB also exited Delhivery today by offloading its remaining 3.18% stake in the logistics major for INR 910 Cr Canada Pension Plan Investment Board (CPPIB) on Wednesday (July 10) offloaded more than 1.
47 Cr shares (1,47,34,000 to be precise) of beauty ecommerce major Nykaa for INR 256.4 Cr via a block deal. As per NSE data, CPPIB sold the stake at INR 174.
04 per share. The shares that flooded the market were lapped up by ICICI Prudential Mutual Fund India. CPPIB held a 1.
47% stake, or 4.20 Cr shares, in the beauty ecommerce giant at the end of March 2024. The block deal came on the same day on which CPPIB exited Delhivery by offloading its remaining 3.
18% stake in the logistics major in block deals worth INR 910 Cr. Shares of Nykaa ended today’s trading session 0.31% lower at INR 174.
85 on the BSE. Last month, brokerage ICICI Securities upgraded Nykaa’s rating to “Add” from “Hold” and increased its price target to INR 195 from INR 175 earlier. Earlier this week, the ecommerce major said it expected a “strong” consolidated revenue growth of around 22-23% year-on-year (YoY) in Q1 FY25.
While it expects the beauty vertical to deliver around 22-23% YoY revenue growth, the fashion vertical is expected to clock 20% growth. Nykaa’s consolidated net profit surged 1.2X year-on-year (YoY) to INR .
