FSN E-Commerce Ventures’ share price, the Nykaa parent, fell as much as 2% on Tuesday to drop below its IPO price of Rs 1,125 as the end of the Pre-IPO lock-in looms. At 2:15 pm, the stock was cited at Rs 1,115 on the NSE, down 2.5%. In the last five trading sessions, the stock shed 3% and was down 12.67% earlier this month.

Pre-IPO investors’ lock-in decreases on 10th November. JM Financial mentioned that around 67% or 31.9 crore shares are probable to open for trade on the expiration day. Steadview Capital Mauritius Ltd, TPG Growth IV SF Pte. Ltd, Lighthouse India Fund III, along with HNIs like Harindarpal Singh Banga, Narotam Sekhsaria and Sunil Kant Munjal, will be qualified to sell their assets. Zomato Shares, on 25th July, was over 13% to record slumps after 78% of its shares came out of the obligatory one-year lock-in after IPO. On 10th November 2021, Nykaa made a bumper debut on the bourses with an immense 79% premium.

In the meantime, JM Financial residues bullish on the company. “The current market price of Nykaa still indicates sturdy assessments associated with the most traditional companies that the firm is establishing by investing in fashion and e-B2B parts,” the brokerage said. It has a buy rating on the stock with a marked price of Rs 1,780.

ICICI Securities has an embrace rating with a target price of Rs 1,250. “Investments in the discriminated value proposition of content, curation, and suitability yield results. We model revenue and essential profit CAGRs of 42% and 90% separately over FY22-FY24,” it said.