Nykaa allots 4.73 lakh shares under ESOP scheme
This marks Nykaa’s second grant of ESOPs less than a month after a previous stock option grant right before the company’s fourth-quarter earnings.
Cosmetics and beauty retailer on Friday allotted 4.73 lakh equity shares under its employee stock option scheme.
Less than a month ago, the fashion and beauty ecommerce platform had granted 4.05 lakh stock options under its employee stock option scheme.
Employee stock options are a remuneration component for employees that allow the company to retain top talent and grow their income as the value of the company grows.
In an exchange filing, the company noted, “equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company in all respects.”
Earlier this week, Nykaa’s Board approved the reappointment of Pradeep Parameswaran and Seshashayee Sridhara as independent directors for the second time for a term of three years.
It also approved the appointment of Santosh Desai as an independent director for a term of three years starting July 15, 2024.
Nykaa faces stiff competition from Reliance-backed Tira and has ramped up its fashion and international distribution plans. During its fourth-quarter earnings, the company announced an investment of Rs 20 crore in FSN International. It further plans to make additional investments of up to $1.9 million through FSN International in Nyssa International, its omnichannel beauty platform based in the Gulf Cooperation Council region.
Falguni Nayar-led FSN E-Commerce Ventures, the parent company of Nykaa, posted a 67% rise in its annual consolidated net profit to Rs 32.2 crore for the year ended March 31, 2024. Nykaa also logged a 24% year-on-year revenue growth to Rs 6,385 crore.
Edited by Jyoti Narayan