India, July 2 -- Update | July 04, 12:42 PM

Harindarpal Singh Banga, founder of The Caravel Group and an early investor in Nykaa, sold 60 Mn shares of Nykaa via a bulk deal yesterday. The shares were sold at an average price of INR 202.57, taking the total deal value to over INR 1,215 Cr.

The sale accounts for around 2.10% of the company's total equity.

Original | July 02, 9:49 PM

Harindarpal Singh Banga, founder of The Caravel Group and an early investor in Nykaa, is reportedly looking to pare stake worth 2% to 2.5% in the beauty ecommerce major in a $150 Mn (about INR 1,284 Cr) block deal.

According to a NDTV Profit report, Banga would sell the shares at a 4% discount to today's closing price of INR 211.8 on the BSE.

Banga held a ...