Nykaa Falls 17% In Two Days Even As Investors Get Bonus Shares
Further, as much as 1.1% equity of the company changed hands in a bunched trade, according to Bloomberg data.
Shares of FSN E-Commerce Ventures Ltd., the owner of Nykaa, continued their fall, extending losses to more than 17% in two days.
The slide comes days after the stock turned ex-bonus. As much as 1.1% equity of the company also changed hands in a bunched trade, according to Bloomberg data.
Nykaa's parent announced a bonus issue of 5 shares for every one held. The company has said bonus shares will be credited to demat accounts of investors within two months of the board approval or at the latest by Dec. 2.
The company had earlier set the effective date for its bonus issue as Nov. 3, but later revised it to Nov. 11, one day after its lock-in period for pre-IPO investors expired on Nov. 10.
As reported earlier, shares of Nykaa have started getting credited though they are yet to get trading permission.