India, July 2 -- 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 4.97% stake in Nykaa at the end of the March quarter of 2025, as per the company's shareholding pattern available with BSE.

Before Nykaa's IPO in November 2021, he, along with his wife Indra Banga, held a 8.7% stake in the company. The duo sold about 1 Cr shares, or about a fourth of their stake, of the company.

Later in August 2023, Banga sold a 1.43% stake for INR ...