Chennai, Oct 29 (IANS) Shares of cosmetics maker FSN E-Commerce Ventures (NS:) Ltd (Nykaa) fell to Rs 983.15 per share at a face value of Re 1, from a 52-week high of Rs 2,574. .
In the process, the company’s market capitalization and shareholders – promoters as well as public wealth – fell to Rs 46,655.62 crore on Friday.
The promoters of the company – Falguni Nayar along with family members and family trusts hold 52.38 percent shares and the remaining 47.62 percent shares are owned by public shareholders.
Nayar is one of the richest women in India.
At the highest price, the promoter’s holding was valued at Rs 63,980.72 crore.
With the company’s share price at Rs 983.15, the total holding is Rs 24,437.70 crore.
The value erosion for the promoters is Rs 39,543.02 crore.
The expiry of the one-year lock-up period of the promoter is due to expire next month and is said to be one of the reasons for the decline in the share price.
The Board of the company also announced the issue of 5:1 bonus shares. The issue of bonus shares also reduces the market price of the scrip.