FSN E-Commerce Ventures Ltd., the dad or mum firm of beauty and fashion retailer Nykaa, has accomplished the acquisition of an extra 24.2% stake in magnificence and personal care model Earth Rhythm.

The corporate stated in a inventory trade submitting on 5 September that it had “efficiently executed all obligatory transaction / procedural paperwork” and that the corresponding fairness shares had been credited to its demat account.

Nykaa’s board authorised the deal on 21 Could, exercising a contractual name choice to accumulate 20,864 shares representing a 24.17% stake in Earth Rhythm on a totally diluted foundation.

The transaction was authorised for money consideration of as much as Rs 9.4 crore, though Nykaa’s completion submitting didn’t disclose the ultimate quantity paid.

The deal is the newest in a sequence of investments by Nykaa within the Gurugram-based firm.

Nykaa first acquired an 18.51% stake in Earth Rhythm for Rs 41.65 crore in Could 2022.

In August 2024, its board authorised an extra funding of as much as Rs 44.5 crore via a mix of major and secondary transactions, with the purpose of creating Earth Rhythm a subsidiary.

Nykaa accomplished an extra funding of Rs 39.5 crore in November 2024, taking its holding to 74.63% on a diluted foundation and making Earth Rhythm a subsidiary.

An additional Rs 5 crore funding was accomplished in June 2025, after which Nykaa stated its holding stood at 75.83% on a transformed foundation.

The newest completion submitting didn’t state Nykaa’s ensuing whole share holding in Earth Rhythm.

Earth Rhythm, which identifies Harini Sivakumar as its founder, sells skincare, haircare and make-up merchandise. The corporate markets its merchandise round protected, science-backed and environmentally aware formulations and sells via its personal web site and different e-commerce channels.

Nykaa’s Could disclosure stated Earth Rhythm recorded turnover of Rs 23.75 crore within the 2025-26 monetary yr, in contrast with Rs 26.7 crore in 2024-25 and Rs 32.4 crore in 2023-24.

The acquisition comes as Nykaa expands its portfolio of shopper manufacturers. Its Home of Nykaa magnificence and trend enterprise reached an annualised gross merchandise worth run-rate of Rs 3,176 crore in 2025-26, a rise of 49% from a yr earlier.

Nykaa has continued so as to add manufacturers to its portfolio. In August, its board approved the acquisition of a 51% stake, on a totally diluted foundation, in premium skincare firm Aminu for money consideration of as much as Rs 32 crore.