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NDTV Profit reports that India's Nykaa shareholder will sell a stake worth $150 Million.

Harindarpal Singh Banga, a Hong Kong-based investor, and his family plan to sell a stake in Nykaa worth $12.84 billion (US$149.93m) through a group deal, reported news portal NDTV profit on Wednesday.

According to the report, people familiar with the situation said that the sale would likely take place at a discount of 4% from Nykaa's market price.

Nykaa shares closed at 211.59 Rupees, a 2.2% increase. The company didn't immediately respond to an inquiry for comment.

Exchange data revealed that Banga owned 4.97% of Nykaa as of March 2025. He invested in Nykaa prior to its public listing. In August of last year he sold 40.9 million shares in a large deal to reduce his stake.

According to LSEG, the Indian market saw secondary market sales of $5.5 billion by large shareholders in listed companies last month. Reliance Industries sold a stake in Asian Paints for $1.5 billion and British American Tobacco sold a stake in ITC for $1.5 billion. ($1 = 85.6242 Indian Rupees) (Reporting and editing by Janane Vekatraman; Reporting by Manvi Pan)

(source: Reuters)