New Delhi, July 3 -- Nykaa share price declined over 4% in early trade on Thursday on reports of a major block deal in the shares. Nykaa shares fell as much as 4.5% to Rs.202.25 apiece on the BSE.

According to reports, Nykaa's early investors, Harindarpal Singh Banga and Indra Banga sold 6 crore Nykaa shares, representing a 2.1% stake in the company, through a block deal.

It was earlier reported by Mint that Harindarpal Singh Banga and Indra Banga will sell a 2.1% stake worth $140.3 million (approximately Rs.1,200 crore) in FSN E-Commerce Ventures Ltd, the parent company of beauty and personal care company Nykaa.

The Bangas are offloading about 6 crore Nykaa shares at an offer price of Rs.200 per share, a 5.5% discount to Wednesday's c...