Nykaa forms new wholly owned subsidiary – Nykaa Essentials
The shares of FSN E-Commerce Ventures Limited were trading at ₹161.65 down by ₹4.14 or 2.50 per cent on the NSE today at 2.05 pm.
FSN E-Commerce Ventures Limited, the parent company of Nykaa, announced yesterday the incorporation of a new wholly owned subsidiary called Nykaa Essentials Private Limited. The subsidiary, registered in Mumbai, Maharashtra, will focus on beauty and personal care retail business through e-commerce and physical stores.
According to the company, the new entity has an authorized share capital of ₹10 crore, with an initial paid-up share capital of ₹5 lakh. FSN E-Commerce Ventures will hold 100 per cent of the shareholding.
The main objective of Nykaa Essentials Private Limited is to trade and deal in cosmetics, toiletries, beauty, personal care, healthcare products, lifestyle products, and perfumery goods. The company is yet to commence business operations.
The incorporation does not fall under related party transactions, and no promoter or promoter group entity has expressed interest in the new subsidiary, as per the regulatory disclosure.
Nykaa, founded in 2012, continues to expand its footprint in India’s growing beauty and personal care market through this strategic addition to its corporate structure.
