Pace E-Commerce Ventures Limited, a company listed on the BSE, has reported a significant change in its promoter shareholding. Shaival Dharmendra Gandhi, the Managing Director and Chief Financial Officer of the company, has reduced his stake through an open market transaction.

Transaction Details

Gandhi disposed of 442,800 equity shares of the company through an open market sale. This transaction represented approximately 1.96% of the company's total share capital. The sale was valued at ₹97,72,596, indicating an average price of about ₹220.70 per share.

Impact on Shareholding

Following the transaction, Gandhi's shareholding in Pace E-Commerce Ventures Limited has decreased from 1,36,69,065 shares (60.66% of the total share capital) to 1,32,26,265 shares (58.69% of the total share capital). Despite this reduction, Gandhi remains a significant shareholder and continues to be part of the promoter/promoter group of the company.

Company Overview

Pace E-Commerce Ventures Limited has a total equity share capital of 2,25,33,510 shares, each with a face value of ₹10. This aggregates to a total share capital of ₹22,53,35,100. The company's shares are listed on the BSE Limited.

Regulatory Compliance

The company has duly reported this transaction to the BSE, in compliance with the Securities and Exchange Board of India (SEBI) regulations. Disclosures have been made under:

• Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
• Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015

Market Implications

While this transaction represents a notable change in the promoter's shareholding, it's important to note that Gandhi still retains a majority stake in the company. Investors and market analysts may want to monitor any potential impact on the stock price or trading volumes.

Pace E-Commerce Ventures , the parent company of Nykaa, is making significant strides in its international expansion strategy. The company has announced the launch of its Kay Beauty brand in the United Kingdom through a strategic partnership with Space NK, a move that marks a major milestone in Nykaa's global ambitions.

UK Launch Details

Kay Beauty, co-created with Bollywood actor Katrina Kaif in 2019, will be available across 13 Space NK stores in the UK and on their online platforms. The brand is set to offer a wide range of cosmetics catering to various skin complexions, including specialty items like kohl, which is expected to appeal to a diverse customer base.

Global Expansion Plans

The UK launch is just the beginning of Nykaa's international journey for Kay Beauty. The company has outlined plans for further expansion into key markets:

• United States
• Middle East
• Asian markets

Nykaa has already established a presence in the Middle East through partnerships in the United Arab Emirates, Qatar, and Oman, laying the groundwork for its global strategy.

In-House Brand Growth Target

Nykaa has set a target for its in-house brands, including Kay Beauty:

This goal represents nearly a threefold increase in the gross merchandise value of Nykaa's in-house brands over the next seven years.

Stock Performance

The market has responded positively to Nykaa's growth strategies and international expansion:

• Nykaa's shares have gained almost 40.00% this year
• This performance outpaces the benchmark Nifty 50 Index, which has seen a 4.00% gain in the same period

The stock performance reflects investor confidence in Nykaa's business model and growth prospects.

Conclusion

Nykaa's expansion of Kay Beauty into the UK market through the Space NK partnership marks a significant step in the company's international growth strategy. With plans to enter other major markets and targets for its in-house brands, Nykaa is positioning itself as a global player in the beauty and e-commerce sectors. The company's stock performance indicates that investors are optimistic about these expansion efforts and the potential for future growth.