The shares of FSN E-Commerce Ventures Restricted had been buying and selling at ₹161.65 down by ₹4.14 or 2.50 per cent on the NSE right now at 2.05 pm.
FSN E-Commerce Ventures Restricted, the dad or mum firm of Nykaa, introduced yesterday the incorporation of a brand new wholly owned subsidiary referred to as Nykaa Necessities Non-public Restricted. The subsidiary, registered in Mumbai, Maharashtra, will deal with magnificence and private care retail enterprise by e-commerce and bodily shops.
In keeping with the corporate, the brand new entity has a licensed share capital of ₹10 crore, with an preliminary paid-up share capital of ₹5 lakh. FSN E-Commerce Ventures will maintain 100 per cent of the shareholding.
The principle goal of Nykaa Necessities Non-public Restricted is to commerce and deal in cosmetics, toiletries, magnificence, private care, healthcare merchandise, way of life merchandise, and perfumery items. The corporate is but to start enterprise operations.
The incorporation doesn’t fall underneath associated social gathering transactions, and no promoter or promoter group entity has expressed curiosity within the new subsidiary, as per the regulatory disclosure.
Nykaa, based in 2012, continues to develop its footprint in India’s rising magnificence and private care market by this strategic addition to its company construction.
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