Canada Pension Plan Investment Board (CPP Investments) on Wednesday sold 0.52% of its stake in India’s FSN E-Commerce Ventures Limited, the parent company of ecommerce platform Nykaa, in a block deal.
According to the National Stock Exchange website, the institutional investor offloaded about 1.5 crores of its shares for Rs 174.04 a piece to raise Rs 256 crores.
CPP Investments held a 1.47% stake or 4.2 crores of shares in the beauty and fashion company, as of March 30.
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The entire stake held by investors was bought by ICICI Prudential Mutual Fund, data from BSE show.
CPP Investments, on the same day, also sold its remaining stake in 3.18% stake in the logistics major, Delhivery, in block deals worth Rs 910 crores.
The Canada-based investment fund holds a diversified portfolio that holds stakes in companies across sectors and asset classes. It is owned by the Canadian government but functions independently to provide monthly returns to retirees in the country.
Edited by Affirunisa Kankudti
