FSN E-Commerce Ventures moves up on getting nod to acquire 100% stake in Iluminar Media
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FSN E-Commerce Ventures is currently trading at Rs. 1431.55, up by 18.95 points or 1.34% from its previous closing of Rs. 1412.60 on the BSE.
The scrip opened at Rs. 1456.00 and has touched a high and low of Rs. 1473.35 and Rs. 1425.00 respectively. So far 50375 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2574.00 on 26-Nov-2021 and a 52 week low of Rs. 1208.40 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 1474.00 and Rs. 1392.10 respectively. The current market cap of the company is Rs. 66994.56 crore.
The promoters holding in the company stood at 52.41%, while Institutions and Non-Institutions held 9.50% and 38.10% respectively.
FSN E-Commerce Ventures has approved the acquisition of 100% of the fully diluted share capital (Equity Shares) of Iluminar Media (known as 'Little Black Book'). The transaction will enable the company to strength its content delivery, drive discovery for brands and make shopping experience more engaging for the customers. The transaction is expected to be completed within 60 days of execution, subject to completion of CPs under the agreement. The Board of Directors of the Company at its meeting held on August 5, 2022 has approved the same.
FSN E-Commerce Ventures (Nykaa) is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care and fashion products, including its owned brand products manufactured by it.
