In a major development for the D2C ecosystem India, Harindarpal Singh Banga, the founder of The Caravel Group and one of the early investors in Nykaa, is planning to sell shares worth nearly INR 1,300 Cr in a significant block deal. This move reflects the growing confidence in the D2C business India, as Nykaa continues to deliver impressive growth in both revenue and profitability.
According to reports, Banga is looking to offload a 2–2.5% stake in Nykaa, the iconic direct-to-consumer India brand, at a 4% discount to the BSE closing price of INR 211.8. As per the latest shareholding pattern (March 2025), Banga held a 4.97% stake. Before Nykaa’s blockbuster D2C IPO news in November 2021, he and his wife Indra Banga held 8.7% of the company. They have been gradually reducing their holding, including a 1.43% stake sold in August 2023 for INR 851 Cr.
This comes at a time when Nykaa, a leading D2C beauty and skincare India brand, is gaining momentum in the public markets. The stock has surged over 20% year-to-date, buoyed by strong quarterly earnings and ambitious vertical expansion plans. In Q4 FY25, the D2C startup news leader posted a 110% jump in net profit to INR 19.1 Cr and a 24% increase in operating revenue to INR 2,061.8 Cr. For the full fiscal, the company saw D2C revenue growth of 25%, reaching INR 7,989.8 Cr, with net profit up by 82% to INR 72.1 Cr.
Nykaa is also turning its attention to its fashion vertical, which it now aims to make EBITDA break-even in the current financial year. As part of its D2C expansion plans, Nykaa has entered the quick commerce D2C segment through its latest initiative—‘Nykaa Now’, a fast beauty delivery service available in seven cities. Delivering products in just 30 minutes to 2 hours, this launch highlights how D2C brands India are innovating to meet evolving consumer behavior.
As one of the top funded D2C brands and among the pioneers in the Indian D2C updates space, Nykaa continues to set benchmarks in the D2C industry news circuit. It has effectively transitioned from being a startup to a public market performer while embracing omnichannel retail and tech-led customer experiences.
With veteran investors like Banga partially exiting and booking profits, the signal is clear: India’s VC-backed D2C brands are maturing. As Nykaa continues to evolve in FY26 with better profitability, fast commerce capabilities, and deeper market penetration, it remains a core pillar of India’s D2C market news and insights.
