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

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

The company earlier owned 51 per cent 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 per cent to 90 per cent 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 deal 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 additional stake in Earth Rythm for Rs 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.