Citigroup is the banker to the deal, and TPG Capital is likely to sell the shares at Rs 184.55, a 0.6% discount to Thursday’s close price of Rs 185.60.
As on September 30, the private equity firm held 2.28% stake in the beauty products e-commerce major, data on the BSE showed.
Several foreign funds have been offloading stake in the company in the last few weeks, following
the expiry of the one-year lock-in period for existing investors.
Segantiii India Mauritius had sold shares of FSN E-Commerce worth Rs 67 crore, while Lighthouse India Fund sold shares worth Rs 525 crore.
The share price of FSN E-Commerce has more than halved since listing in November last year.