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Nykaa Fashion CEO Nihir Parikh Resigns, Abhijeet Dabas Appointed as New Business Head!
Nykaa Fashion’s CEO, Nihir Parikh, has stepped down from his position to pursue personal commitments. The announcement was made via a regulatory filing by FSN E-Commerce Ventures, Nykaa’s parent company, stating that Parikh’s resignation is effective as of December 5, 2024.
Parikh’s Legacy at Nykaa
Nihir Parikh joined Nykaa in 2015 as the Chief Strategy Officer and played a pivotal role in the company’s growth trajectory. He was instrumental in launching Nykaa Fashion and NykaaMan, which expanded Nykaa’s offerings into the fashion and men’s grooming segments. Under his leadership, Nykaa Fashion became a prominent player in India’s online fashion retail space.
Contributions to Digital Transformation
Parikh also contributed significantly to Nykaa’s digital transformation, enhancing the platform’s technology and customer experience. His strategic insights and leadership helped position Nykaa as a leader in the e-commerce sector, particularly in the beauty and fashion categories.
Reflections on Tenure
Reflecting on his tenure, Parikh expressed gratitude to Nykaa’s founder, Falguni Nayar, and his team for their collaboration and support. He conveyed pride in being part of Nykaa’s success story and wished the company continued growth in the future. Nayar acknowledged Parikh’s significant contributions and dedication, especially regarding the expansion of Nykaa Fashion and NykaaMan. Notably, Parikh will continue to support Nykaa as a Board member.
A New Chapter Begins: Abhijeet Dabas Takes the Helm
In light of Parikh’s departure, Nykaa announced the appointment of Abhijeet Dabas as the new Executive Vice President and Business Head of Fashion eCommerce. Dabas brings extensive experience to his new role, having worked with notable companies such as Adobe Systems, McKinsey & Company, Myntra Jabong, Lazada Group, Swiggy, and CARS24.
Dabas’ Focus Areas
Dabas’ primary focus will be on:
- Driving online growth for Nykaa Fashion
- Expanding its global footprint
- Building strategic partnerships
- Strengthening Nykaa’s presence in the fashion e-commerce space
This appointment signals Nykaa’s commitment to further developing its fashion segment and solidifying its position as a leading player in the Indian e-commerce market.
Industry Context and Future Outlook
The resignation of Nihir Parikh comes at a time when Nykaa is navigating a competitive landscape in the fashion e-commerce sector. As consumer preferences continue to evolve, the company aims to leverage Dabas’ expertise to enhance its market strategy and drive innovation.
Commitment to Growth
With Dabas at the helm, Nykaa is expected to focus on expanding its product offerings and enhancing customer engagement through personalized shopping experiences. The leadership transition reflects Nykaa’s proactive approach to adapting to market dynamics while maintaining its growth trajectory.
Conclusion
Nihir Parikh’s departure marks the end of an influential chapter for Nykaa Fashion, while Abhijeet Dabas’ appointment heralds a new era of leadership aimed at driving growth and innovation. As both companies navigate this transition, they remain committed to enhancing their offerings and solidifying their positions within India’s dynamic e-commerce landscape.
Bhavish Aggarwal has sold Ola Electric shares worth about ₹325 crore over three consecutive trading sessions, primarily to fully repay a promoter-level loan of ₹260 crore and release all pledged promoter shares. Despite the stake sale, he continues to hold a significant shareholding of over 34 percent in Ola Electric, and the company has clearly stated that there is no change in promoter control or his long-term commitment to the business. This one-time, limited monetisation at the promoter’s personal level is positioned as a structural clean-up rather than a signal of reduced confidence in the company.
The transactions, executed through open-market bulk deals, included an initial sale of about 2.6 crore shares worth roughly ₹92 crore at an average price of ₹34.99 per share, followed by additional trades of around ₹142 crore and ₹90 crore, taking the total sale value to approximately ₹324–325 crore. As a result, Aggarwal’s stake has fallen by a little over 2 percent, while all previously pledged promoter shares about 3.93 percent of Ola Electric’s equity are being released, removing the overhang and risk typically associated with pledged stock. The company has also clarified that these deals do not involve any capital raise or dilution by Ola Electric itself, which is important for investors tracking promoter stake and governance.
The share sale came at a time when Ola Electric’s stock had been under pressure, even hitting an all-time closing low amid concerns around growth, competition and heavy promoter selling. However, once the company confirmed that the stake sale was complete and all promoter-level pledges would be cleared, the stock rebounded sharply, gaining around 9–10 percent as markets welcomed the removal of this technical overhang. For investors, the focus is now expected to shift back to Ola Electric’s core fundamentals EV sales growth, margins, and market-share performance in India’s two-wheeler EV segment while the reduced promoter debt risk and continued high promoter holding offer some comfort on long-term alignment.
Kuku FM’s parent company, Mebigo Labs, has hired leading investment banks to prepare for a 200 million dollar IPO in India, marking a major milestone for the country’s digital audio ecosystem. The Mumbai-based company has reportedly appointed Kotak Mahindra Capital, Axis Bank and Morgan Stanley’s India unit to manage the proposed share sale, which is likely to be launched on Indian stock exchanges once key regulatory steps are completed. This move signals strong intent to tap public markets and test investor appetite for subscription-led regional audio platforms in India.
The planned IPO proceeds are expected to help Kuku FM expand its content library, strengthen its regional language offerings and invest in technology to enhance user experience. With a focus on Hindi, Marathi, Tamil and other Indian languages, Kuku FM aims to capture the fast-growing audience in Tier 2 and Tier 3 cities seeking affordable audiobooks, courses and storytelling content. The funds could also provide additional firepower for marketing, partnerships and product innovation, helping the platform compete more aggressively in India’s crowded digital entertainment and creator economy landscape.
Founded in 2018, Kuku FM has built a subscription-driven business model and has reportedly scaled to millions of paying users, backed by multiple funding rounds from prominent investors. Its decision to pursue a 200 million dollar IPO positions it as one of the first major Indian audio platforms to attempt a public listing, potentially paving the way for other podcast and niche content startups to follow. As the IPO process moves forward, Kuku FM’s performance in the public markets will be closely watched as a key indicator of how investors value regional, knowledge-first audio platforms in India’s booming digital economy.
Zerodha experienced a challenging FY25, as its revenue fell 11.5% to ₹8,847 crore and net profit dropped 22.9% to ₹4,237 crore. This decline reflects tougher regulatory conditions, lower trading volumes, and increased operational costs in the brokerage market, all of which impacted core earning segments for the company.
Despite these headwinds, Zerodha improved its operating margin to 63.78% and built up significant cash reserves, reporting ₹22,679 crore in bank balances. Salary expenses and director remuneration increased, but disciplined cost controls helped the company maintain profitability and a debt-free balance sheet. The drop in active clients and increased compliance costs further contributed to the profit contraction.
Looking ahead, Zerodha’s resilience is supported by its robust cash position and operational efficiency. Maintaining steady margins, diversifying product offerings, and investing in technology positions the company to withstand future regulatory fluctuations and changing market sentiment reinforcing its status as one of India’s leading brokerage firms.
Bhavish Aggarwal Sells ₹325 Crore Ola Electric Stake, Retains Control
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