Harindarpal Singh Banga and Indra Banga are likely to sell a 2.1% equity stake in the fashion and beauty retailer Nykaa Ltd, through block deals, sources privy to the developments told CNBC-TV18.

The total block size is estimated at ₹1,200 crore, with the floor price set at ₹200 per share, the sources told CNBC-TV18.

Q4 surge

Nykaa’s net profit for the quarter ended March 31 jumped to ₹20.3 crore, up from ₹7 crore a year earlier. Revenue rose 23.6% year-on-year to ₹2,061.8 crore, compared with ₹1,668 crore in the same period last year.

Also Read: Nykaa shares may rise to ₹235 or fall to ₹145? Analysts dividend on prospects

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 43% to ₹133.4 crore from ₹93.3 crore. EBITDA margin improved to 6.47% from 5.59% a year earlier.

Gross merchandise value (GMV) for Q4 FY25 reached ₹4,102 crore, a 27% increase from the year-ago period, underscoring continued consumer momentum across Nykaa’s online and offline channels.

For the full fiscal year, consolidated GMV rose 25% to ₹15,604 crore, with revenue increasing 24% to ₹7,950 crore. Full-year EBITDA stood at ₹474 crore, up 37% from FY24, and the EBITDA margin improved to 6% from 5.4%.

Also Read: Nykaa Now launch, fashion business breakeven in FY26 & more — Key takeaways from investor day

Founded in 2012 by Falguni Nayar, Nykaa has evolved from a digital-first beauty platform to a diversified retail and consumer tech player with offerings spanning fashion, private labels, and B2B distribution. The company went public in 2021 and now operates 237 physical stores across 79 cities, making it India’s largest specialised beauty retailer.

Shares of Nykaa parent FSN E-Commerce Ventures Ltd ended at ₹212, up by ₹4.95, or 2.39%, on the BSE today (July 2).