Mumbai: Businessman Harindarpal Singh Banga and spouse Indra Banga are prone to promote a 1.4% stake price Rs 809 crore on Friday by means of block offers. In keeping with the time period sheet issued by the bankers, the Bangas plan to promote 4.09 crore shares at a flooring worth of Rs 198 apiece, which represents a 5.9% low cost to Thursday’s closing worth of Rs 210.
Harindarpal was an early investor in Indian billionaire Falguni Nayar’s style large Nykaa and held a 6.4% stake. He based The Caravel Group, a worldwide conglomerate primarily engaged in sources buying and selling, maritime companies, and asset administration.
Shares of Nykaa have rallied 56% to date this 12 months, in comparison with a 24% rise within the benchmark Sensex.
