FSN E-Commerce Ventures Limited , formally known as Nykaa, has successfully concluded its postal ballot process with shareholders overwhelmingly approving the appointment of Dipak Gupta as Non-Executive Independent Director. The voting results, announced on December 26, 2025, demonstrate strong shareholder confidence in the proposed board enhancement.

Postal Ballot Results

The voting outcome reflects decisive shareholder support for the appointment:

Appointment Details

The approved appointment encompasses the following terms:

Voting Process and Participation

The company conducted the postal ballot through remote e-voting exclusively, with the process spanning from November 27, 2025, to December 26, 2025. The voting demonstrated strong participation across different shareholder categories:

About Dipak Gupta

Dipak Gupta brings extensive financial sector expertise to Nykaa's board. As former Managing Director & CEO of Kotak Mahindra Bank, he possesses over three decades of experience in banking, investments, and risk management. His appointment strengthens the company's governance framework with seasoned financial services leadership.

Regulatory Compliance

The postal ballot was conducted under the supervision of Mr. Vishwanath, Practicing Company Secretary and Designated Partner of Sharma and Trivedi LLP, who served as the scrutinizer. The process adhered to Section 108 and 110 of the Companies Act, 2013, along with applicable SEBI regulations and listing requirements.

The voting results and scrutinizer's report are available on the company's investor relations website and have been communicated to both NSE and BSE. This appointment represents a strategic enhancement to Nykaa's board composition as the company continues its growth trajectory in the competitive e-commerce landscape.

FSN E-Commerce Ventures Limited (Nykaa) has announced a significant development in its equity structure. The company, a prominent player in India's e-commerce beauty and fashion space, has allotted 259,450 equity shares to employees under its Employee Stock Option Scheme (ESOS).

Key Details of the Allotment

The allotment, which took place on December 13, 2025, was approved by the company's Nomination and Remuneration Committee. This move comes as part of Nykaa's ongoing efforts to incentivize and retain talent within the organization.

Impact on Share Capital

Consequent to this allotment, the issued and paid-up share capital of the company stands increased. The newly allotted shares will have equal rights and privileges as the existing equity shares of the company, including voting rights and dividend entitlements. The allotment may have a minor dilutive effect on the company's share capital structure.

Regulatory Compliance

Nykaa has submitted this information to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. This ensures transparency and keeps investors informed about changes in the company's capital structure.

Significance for Employees and Investors

For Nykaa's employees, this allotment represents an opportunity to participate in the company's growth and success. It aligns the interests of the employees with those of the shareholders, potentially boosting motivation and retention.

For investors, while the allotment might lead to a slight dilution in shareholding, it also signals the company's commitment to attracting and retaining talent, which is crucial in the competitive e-commerce sector. As Nykaa continues to evolve in the dynamic Indian e-commerce landscape, such moves underscore its focus on employee welfare and long-term growth strategies.