Following the transaction, shares of the beauty and personal care platform jumped by 6.5 percent. By 1:17 pm, Nykaa's stock was trading over 8 percent higher at Rs 228 on the NSE.
The identities of the buyers and sellers could not be immediately confirmed, the report said.
However, CNBC-TV18 had reported on August 22 that Harindarpal Singh Banga, a pre-IPO investor, was looking to sell up to a 1.4 percent stake, offering it at a floor price of Rs 198 per share.
As of the end of the June quarter, Harindarpal Singh held a 6.4 percent stake in FSN E-commerce Ventures, equivalent to 18.28 crore shares.
The CNBC-TV18 report also indicated that the block deal would trigger a 45-day lock-in period for any further stake sales.
The Moanycontrol report said, citing Forbes Magazine that Harindarpal Singh Banga, a commodities billionaire and chairman of Caravel Group, ranks among the Top 50 richest individuals in Hong Kong, with a net worth of $2.9 billion as of August 2024,
Other prominent pre-IPO investors in Nykaa include Narotam Sekhsaria, Sunil Kant Munjal, Mala Gaonkar, Steadview Capital, and TPG Growth.