Nykaa raises stake in Dot & Key from 51% to 90% for ₹265.3 crore

FSN E-Commerce Ventures, which owns beauty and fashion platform Nykaa, on Tuesday said it has raised its stake by 39% to 90% in Dot & Key Wellness in a ₹265.3-crore cash deal.

The company earlier owned 51% in Dot & Key.

FSN E-Commerce will be acquiring 5,29,286 equity shares of Dot & Key from the promoters and existing shareholders of Dot & Key.

"On completion of the said transaction, the Company's (FSN E-Commerce) stake in Dot & Key will increase from the current 51% to 90% of the paid-up capital of Dot & Key and hence, Dot & Key will continue to remain a subsidiary of the Company," FSN E-Commerce said in a regulatory filing.

Dot & Key was incorporated on March 16, 2020. It is engaged in the business of buying, exporting, selling, distributing and otherwise dealing in all kinds and varieties of pharmaceuticals, medicines including Ayurveda, Unani, Allopathy or Homeopathy, health care, cosmetics, beauty, and skin care products.

FSN E-commerce has also bought an additional stake in Earth Rhythm for ₹44.5 crore, according to the filing.

Earth Rhythm was incorporated on October 13, 2020. It is a personal care brand which manufactures and sells sustainable/non-toxic beauty products on its website and through various channels including e-commerce.