Bonus shares 2022: Lifestyle retail company FSN E-Commerce Ventures Limited or Nykaa is going to trade ex-bonus next week. The board of directors of the company has fixed record date for issuance of bonus shares on 11th November 2022 i.e. on Friday next week. Earlier the company had Nykaa fixed bonus shares record on 3rd November 2022 but later on it was revised to 11th November 2022. The lifestyle retail platform has already announced in the ratio of 5:1 to the eligible shareholders of the company.
Nykaa bonus share ratio
Informing Indian stock market exchanges about approval of bonus share issue, FSN E-Commerce Ventures Limited said, “In continuation to our intimation dated September 28, 2022, we hereby inform that the Board at its Meeting held on October 03, 2022, inter alia, has approved Bonus Issue of Equity Shares in the proportion 5 (Five) fully paid-up Equity Share of ₹1/- each for every 1 (One) fully paid-up Equity Shares of ₹1/- each held by the shareholders of the Company as on the record date, subject to shareholders’ approval by way of postal ballot.”
Nykaa bonus share record date
On bonus share record date, Nykaa said, “In terms of Regulation 42 of the Securities & Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of the Company has fixed the Record Date on Friday, November 11, 2022 for the purpose of determining the shareholders eligible for Bonus Equity Shares.”
Nykaa Q2Fy23 results
FSN E-Commerce Ventures Ltd, which runs online fashion retailer Nykaa, posted a multi-fold increase in its consolidated net profit at ₹5.19 crore for the three months ended September 2022 or Q2 FY23 as compared to ₹1.17 crore in the same period a year ago. The consolidated Gross Merchandise Value (GMV) of Nykaa grew 45 per cent year-on-year (YoY) to ₹2,345.7 crore in the September 2022 quarter.
Jefferies bullish on Nykaa share price
After the announcement of Q2FY23 results, global brokerage firm Jefferies has given ‘buy’ rating to Nykaa shares citing, “Nykaa Q2 was better than estimates on GMV, revenues & EBITDA led mainly by BPC which enjoyed a strong YoY growth across parameters. Fashion was modest despite a low base, highlighting profitability focus. Own labels and retail footprint got a fair share in mgmt. comments. Nykaa has made senior level appointments (CTO, B2B, Own labels). We u/g our EBITDA estimates on better margins & retain BUY – expect share price volatility ahead of lock-up expiry next week. We upgrade our FY23-26E EBITDA estimates by 24-33% on better margins.”
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(This story has not been checked by Kashmir Bulletin and is auto-generated from other sources)
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