Nykaa Raises Stake in Dot & Key to 90% for Rs 265.3 Crore
By Rediff Money Desk, New Delhi Aug 13, 2024 18:03
FSN E-Commerce Ventures, owner of Nykaa, has increased its stake in Dot & Key Wellness from 51% to 90% for Rs 265.3 crore. The deal makes Dot & Key a subsidiary of Nykaa.
![Nykaa Raises Stake in Dot & Key to 90% for Rs 265.3 Crore](https://im.rediff.com/money/2019/apr/29nykaa.jpg)
Photograph: Pradeep Bandekar.
New Delhi, Aug 13 (PTI) FSN E-Commerce Ventures, which owns beauty and fashion platform Nykaa, on Tuesday said it has raised its stake by 39 per cent to 90 per cent in Dot & Key Wellness in a Rs 265.3-crore cash deal.
The company earlier owned 51 per cent in Dot & Key.
FSN E-Commerce will be acquiring 5,29,286 equity shares of Dot & Key from the promoters and existing shareholders of Dot & Key.
"On completion of the said transaction, the Company's (FSN E-Commerce) stake in Dot & Key will increase from the current 51 per cent to 90 per cent of the paid-up capital of Dot & Key and hence, Dot & Key will continue to remain a subsidiary of the Company," FSN E-Commerce said in a regulatory filing.
Dot & Key was incorporated on March 16, 2020. It is engaged in the business of buying, exporting, selling, distributing and otherwise deal in all kinds and varieties of pharmaceuticals, medicines including Ayurveda, Unani, Allopathy or Homeopathy, health care, cosmetics, beauty, and skin care products.
FSN E-commerce has also bought additional stake in Earth Rythm for Rs 44.5 crore, according to the filing.
Earth Rhythm was incorporated on October 13, 2020. It is a personal care brand which manufactures and sells sustainable/non-toxic beauty products on its website and through various channels including e-commerce.
The company earlier owned 51 per cent in Dot & Key.
FSN E-Commerce will be acquiring 5,29,286 equity shares of Dot & Key from the promoters and existing shareholders of Dot & Key.
"On completion of the said transaction, the Company's (FSN E-Commerce) stake in Dot & Key will increase from the current 51 per cent to 90 per cent of the paid-up capital of Dot & Key and hence, Dot & Key will continue to remain a subsidiary of the Company," FSN E-Commerce said in a regulatory filing.
Dot & Key was incorporated on March 16, 2020. It is engaged in the business of buying, exporting, selling, distributing and otherwise deal in all kinds and varieties of pharmaceuticals, medicines including Ayurveda, Unani, Allopathy or Homeopathy, health care, cosmetics, beauty, and skin care products.
FSN E-commerce has also bought additional stake in Earth Rythm for Rs 44.5 crore, according to the filing.
Earth Rhythm was incorporated on October 13, 2020. It is a personal care brand which manufactures and sells sustainable/non-toxic beauty products on its website and through various channels including e-commerce.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 15.79 (+ 2.00)
- 29184572
- GTL Infrastructure
- 2.67 ( -1.11)
- 28749307
- Suzlon Energy Ltd.
- 76.78 ( -4.96)
- 23632361
- Integra Essentia
- 4.53 ( -6.60)
- 23054326
- Filatex Fashions
- 1.42 (+ 2.90)
- 20800891
MORE NEWS
![Gujarat Govt...](https://im.rediff.com/80-80/money/2016/jul/28port.jpg)
Gujarat Govt Denies Adani Port Favouritism...
Gujarat government refutes Congress's claims of a policy favoring Adani Ports, stating...
![Ola Electric...](https://im.rediff.com/80-80/money/2024/jul/30ola-electric5.jpg)
Ola Electric Widens Loss, Launches E-Motorcycle...
Ola Electric reported a wider loss in Q1 FY25 but saw strong revenue growth. The...
![SMEs Raise Rs...](https://im.rediff.com/80-80/money/2012/mar/16sme1.jpg)
SMEs Raise Rs 11,000 Crore via Capital Markets:...
Indian SMEs are increasingly turning to capital markets for funding, raising Rs 11,000...