According to reports, private equity firm Lighthouse India may sell 335 crore rupees worth of shares in FSN E-Commerce Ventures today in a block deal.
Digital Desk: The FSN E-Commerce Ventures, which operates the fashion and cosmetics platform Nykaa, reported that Arvind Agarwal, CFO, had resigned on November 22.
"This is to let you know that Mr. Arvind Agarwal, the Chief Financial Officer of FSN E-Commerce Ventures Limited ("the Company"), will be leaving the company at the end of business on November 25, 2022, to pursue other opportunities in the start-up and digital economy sectors," Nykaa stated in a BSE filing. The outgoing CFO sent his best wishes to Nykaa and said that he was eager to pursue various prospects for personal development in the start-up and digital economy sectors.
"It's been wonderful to share in the fantastic Nykaa trip thus far. My education and experiences up to this point have prepared me for exploring many prospects for personal development in the start-up and digital economy sectors.
I will always be a part of the Nykaa Family and wish Nykaa the best on its future growth route," Agarwal said.
"Arvind deserves praise for the crucial part he played in Nykaa's transformation into a listed and successful start-up. The statement from Falguni Nayar, founder, and chairperson, read, "While we do regret losing him, we are aware of his personal goals, and we wish him all the luck.
Since November 10, Nykaa shares have decreased by about 7%.
As pre-IPO investors sell the stock once lock-ins expire, the share price of FSN E-Commerce Ventures Ltd. plummeted by 5% today, November 22.
According to reports, private equity firm Lighthouse India may sell 335 crore rupees worth of shares in FSN E-Commerce Ventures today in a block deal.
Previously, on November 10 at an average price of Rs 171, Lighthouse India Fund III sold 96,89,240 shares.
According to NSE records, Segantii India Mauritius sold 33,73,243 shares at an average price of Rs 199 on November 15.
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