Nykaa Soared 11 Percent To Rs 1,411.80 On The BSE 

After the company's board approved bonus shares in the ratio of 5:1, or five bonus shares for every one share held in the company, FSN E-commerce shares, which trade under the Nykaa brand, rose 11% to Rs 1,411.80 on the BSE on Monday. Since August 19, the stock's current price is the highest it has been.

According to a filing with the exchange, “The board approved bonus issue of equity shares in the proportion 5 fully paid-up equity share of Re 1 each for every 1 fully paid-up equity shares of Re 1 each held by the shareholders of the company as on the record date, subject to shareholders’ approval by way of postal ballot,”

The record date for the purpose of selecting members eligible for bonus equity shares has been set by the firm as November 3, 2022.

On September 28, just last week, Nykaa announced that its board would meet on October 3 to talk about a first-bonus issue.

Nykaa manufactures, sells, and distributes items for personal care, wellness, fitness, skincare, and hair care through physical stores, stalls, general trade, and modern trade in addition to online channels such e-commerce, m-commerce, the internet, and intranet.

The stock was trading 7% higher at Rs. 1,367 at 11:19 AM, while the S&P BSE Sensex was down 0.57 %.

However, compared to the Sensex's 8% increase over the past six months, Nykaa underperformed the market, plunging up to 20%.

On November 26, 2021, the stock reached a record high of Rs 2,574. On May 12, 2022, it reached a record low of Rs 1,208.40. On November 10, 2021, Nykaa made its debut on the public market. The company issued shares at a price of Rs. 1,125 per share in an IPO that raised Rs. 5,300 crore.