Early investor Banga to sell 2% in Nykaa

Harindarpal Singh Banga and his family, early investors in Nykaa, are selling a 2.1% stake in the company for $140.3 million through a block deal. The Banga family, holding nearly 5% stake, will offload 60 million shares at a 5.5% discount. Previously, in August 2024, Banga divested 1.4% stake in Nykaa for Rs 852 crore.