FSN E-commerce s board has approved further investment in Nykaa Fashion by way of equity on a rights issue basis. Further, its board has approved the acquisition of the athleisure and lingerie business of Nykaa Fashion as a going concern on a slump sale basis, in accordance with the business transfer agreement (BTA) to be entered between the companies on an arm s length basis.
According to a report from CNBC Awaaz, asset management firm Lexdale International was looking to offload 2.62 crore shares of the Nykaa parent through block deals.