FSN E-Commerce rises on approving arm`s investment in subsidiary
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FSN E-Commerce Ventures is currently trading at Rs. 164.25, up by 1.10 points or 0.67% from its previous closing of Rs. 163.15 on the BSE.
The scrip opened at Rs. 164.15 and has touched a high and low of Rs. 166.00 and Rs. 163.05 respectively. So far 193956 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 195.40 on 10-Jan-2024 and a 52 week low of Rs. 114.30 on 26-Apr-2023.
Last one week high and low of the scrip stood at Rs. 168.55 and Rs. 159.70 respectively. The current market cap of the company is Rs. 46864.17 crore.
The promoters holding in the company stood at 52.24%, while Institutions and Non-Institutions held 25.90% and 21.87% respectively.
FSN E-Commerce Ventures’ board has approved the proposal of investment by Nessa International Holdings (Nessa International), a subsidiary of the Company into Nysaa Beauty LLC, a wholly owned subsidiary of Nessa International, for first investment of an amount up to $2.5 million in one or more tranches.
The Fundraise & Investment Committee of the Board of Directors of the FSN E-Commerce Ventures on February 01, 2024, has approved the same. Nessa International is making its first strategic investment in Nysaa Beauty LLC, for operational support. The investment is expected to be completed by March 31, 2024.
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.
