From a 52-week high of Rs 2,574, the shares of cosmetics maker FSN E-Commerce Ventures Ltd (Nykaa) with a par value of Re 1 have come down to Rs 983.15 per share.
In the process, the company's market capitalisation and shareholders - promoters as well as public - wealth went down to Rs 46,655.62 crore on Friday.
The company promoters - Falguni Nayar along with family members and family trusts hold 52.38 per cent stake and the balance 47.62 per cent is held by public shareholders.
Nayar is one of India's richest self made women.
At the peak price, the promoter holding was worth a whopping Rs 63,980.72 crore.
With the company's share price of Rs 983.15, the total holding is worth Rs 24,437.70 crore.
The value erosion is a whopping Rs 39,543.02 crore for the promoters.
The expiry of the promoter's one year lock-in period is coming to an end next month and is said to be one of the reasons for the stock prices coming down.
The company's Board has also announced the issue of 5:1 bonus shares. The issue of bonus shares will also bring down the scrip's market price.