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FSN E-Commerce Ventures Limited — Capital/Financing Update 2024
Jun 6, 2024
61209_rns_2024-06-06_daf9657e-e2c2-4e0a-adaa-ffad9d649f3b.pdf
Capital/Financing Update
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FSN E - Commerce Ventures Limited
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June 06, 2024
National Stock Exchange of India Limited
Symbol: NYKAA
BSE Limited
Scrip Code: 543384
Dear Sirs,
Subject: Intimation of incorporation of a step-down subsidiary company in Kuwait
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the ‘Listing Regulations’ ) read with Part A of Schedule III of the Listing Regulations, we hereby inform you that Nessa International Holdings Limited, a stepdown subsidiary of the Company, has incorporated a new Wholly Owned Subsidiary in Kuwait by the name ‘Nysaa International for Wholesale and Retail Trade’.
The details as required under Regulation 30 of the Listing Regulations read with SEBI circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are enclosed herewith as ‘ Annexure A’.
This intimation is for your information and dissemination.
For FSN E-Commerce Ventures Limited
Digitally signed by NEELABJA NEELABJA CHAKRABARTY CHAKRABARTY Date: 2024.06.06 21:59:30 +05'30'
Neelabja Chakrabarty
Company Secretary & Compliance Officer
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136
FSN E - Commerce Ventures Limited
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Annexure A
Details pursuant to Regulation 30, read with Para A of Part A of Schedule III of the Listing Regulations and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
| Sr.No. | Particulars | Details |
|---|---|---|
| a. | Name of the target entity, details in briefsuch as size, turnover etc. | Nysaa International for Wholesale and RetailTrade (“Nysaa Kuwait”) is a wholly ownedsubsidiary of Nessa International HoldingsLimited (“Nessa International”), which is asubsidiary of the FSN International Limited.FSN International Limited is a wholly ownedsubsidiary of the Company.Size/Turnover: Not applicable (yet to commencebusiness operations) |
| b. | Whether the acquisition would fall withinrelated party transaction(s) and whetherthe promoter/ promoter group/ groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether the sameis done at “arms length” | Incorporation of a new subsidiary does not fallwithin the purview of Related Party Transactionand no promoter/ promoter group entity isinterested. |
| c. | Industry to which the entity being acquiredbelongs | International exports and sale/trade/retail ofBeauty and Personal Care (BPC) products (bothonline and offline) and other related activities. |
| d. | Objectsandeffectsofacquisition(including but not limited to, disclosure ofreasons for acquisition of target entity, ifits business is outside the main line ofbusiness of the listed entity) | The main object of the new subsidiary company isto:1. Sale / Trade/ Retail of Beauty and PersonalCare (BPC) including perfumery, cosmeticsand toiletries2. Retail sale via Internet of the abovementionedproducts which shall include carrying out allactivities as are related or ancillary thereto. |
| e. | Brief details of any governmental orregulatory approvals required for theacquisition | None. |
| f. | Indicative time period for completion ofthe acquisition | Not Applicable |
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136
FSN E - Commerce Ventures Limited
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| Sr.No. | Particulars | Details |
|---|---|---|
| g. | Nature of consideration – whether cashconsideration or share swap and details ofthe same | Cash consideration |
| h. | Cost of acquisition or the price at whichthe shares are acquired | SubscribedShareCapitalforthenewlyincorporated Company is KWD 10,000. |
| i. | Percentageofshareholding/controlacquired and/ or number of sharesacquired | Nessa International, a subsidiary of the Companywill hold 100% of the shareholding of NysaaKuwait.Since the Company through FSN InternationalLimited (wholly-owned subsidiary) holds 55% ofshareholding of Nessa International, the Companywill indirectly hold 55% of shareholding of NysaaKuwait. |
| j. | Briefbackgroundabouttheentityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, country inwhich the acquired entity has presence andanyother significant information(in brief) | Nysaa Kuwait is a newly incorporated companyand is yet to commence its business operations. |
Registered Office: 104 Vasan Udyog Bhavan | Sun Mill Compound | S. B. Marg | Tulsi Pipe Road | Lower Parel (W) | Mumbai – 400013 Website: www.nykaa.com | Phone: +91 22 6614 9696 | Email – [email protected] CIN: L52600MH2012PLC230136