FSN E-Commerce Ventures (Nykaa) has received approval to enter into Share Subscription and Shareholder's Agreement and Share Purchase Agreement to acquire by way of subscription and/or purchase of Equity shares, initially up to 60% (with a right to go up to 100%) of the fully diluted share capital of Nudge Wellness. The cost of acquisition is Rs 3.60 crore and the transaction is expected to be completed by June 30, 2022.
The investment will mark company's entry into owned brand of dietary supplement and other nutricosmetics products. This will address the growing demand in high-potential category of edible beauty in India.
FSN E-Commerce Ventures (Nykaa) is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care and fashion products, including its owned brand products manufactured by it.
