Nykaa said that the additional stake acquisition in Dot & Key will increase its holding in Dot & Key to 90% from 51% currently
Nykaa will acquire an additional stake in Earth Rhythm for INR 44.5 Cr, following which the latter will become a subsidiary
Nykaa today reported a 152% YoY increase in its net profit to INR 13.6 Cr in Q1 FY25
Beauty and fashion ecommerce major Nykaa
is acquiring an additional 39% stake in its subsidiary Dot & Key for INR 265.3 Cr.
In an exchange filing, Nykaa said that the additional stake acquisition in the skincare solutions subsidiary will increase its holding in Dot & Key to 90%.
Nykaa would acquire the shares from the promoters and founders of the cosmetics, skincare and beauty products brands.
It is pertinent to note that Nykaa first acquired a 51% stake in Dot & Key in 2021.
Besides, Nykaa is also acquiring an additional stake in beauty brand Earth Rhythm for INR 44.5 Cr.
Earth Rhythm is currently an associate of Nykaa. The ecommerce major acquired an 18.6% stake in Earth Rhythm in 2022.
Following the acquisition of additional stake, Earth Rhythm will become a subsidiary of Nykaa. The acquisition is expected to be completed by September 2025.
Meanwhile, Nykaa today reported a 152% YoY increase in its net profit to INR 13.6 Cr in Q1 FY25.
(The story will be updated soon.)
