Nykaa‘s parent company, FSN E-Commerce Ventures, notified the stock exchange in a September 28 regulatory filing that its board of directors is scheduled to meet on October 3 to consider and approve the issue of bonus shares to shareholders.

The board can seek shareholder approval through mail-in ballots and other means of approving stock offerings. Bonus shares are additional share capital issued to existing shareholders of a company on paid-up share capital.

On September 27, Nykaa launched the “Nykaa Chair in Consumer Technology” in partnership with the Indian Institute of Management Ahmedabad (IIMA). Through this, the company aims to develop consumer technology research solutions.

The cosmetics-to-fashion retailer reported on August 5 that consolidated profit for the quarter ended June 2022 rose 42.24% year-on-year to Rs 5.01 crore on improved revenue and operating performance. FSN E-Commerce Ventures debuted on November 10 last year at a massive 79% premium. The stock opened at Rs 2,001 on the BSE, while it was listed on the NSE at Rs 2,018.

The Rs 5,352 crore public offering, which was in high demand, was 81.78 times subscribed between October 28 and November 1, with 216.59 crore shares received against an offer size of 264 crore shares. Shares of FSN E-Commerce closed at Rs 1,283.5 per share on September 28, down 0.32% (or 4.15 points) against the BSE.