Nykaa IPO Launch Date Set For Next Week As Beauty Startup Eyes $7.4 Billion Valuation: Report
IPO dates have been fixed from October 28 to November 1, and it will include a primary issue of stock worth Rs 630 crore, the report said
New Delhi: Nykaa, the online beauty startup that received approval from the Securities and Exchange Board of India (SEBI) earlier this month to launch its initial public offering (IPO), is set to open its IPO on October 28, reports said.
Nykaa will launch a three-day IPO, and plans to raise up to Rs 5,200 crore through this, Economic Times reported.
According to the report, the IPO dates have been fixed from October 28 to November 1, and it will include a primary issue of stock worth Rs 630 crore.
As many as 41,972,660 shares would be available through offer-for-sale.
“The company is seeking a valuation of around $7.4 billion...,” the report quoted a person privy to the development as saying, adding that the price band would be decided by next week.
Nykaa had received approval from SEBI for the IPO on October 14.
The startup is headed by former investment banker Falguni Nayar. The profitable unicorn founded in 2012 is a leading destination for beauty products.
Nykaa now has a chain of physical outlets across the country, and has over 1,500 brands in its portfolio.
TPG and Fidelity are among the investors of the company and its FY 2021 revenue from operations was Rs 2,440 crore, according to Moneycontrol.
Falguni Nayar and her family currently hold more than 53 per cent in FSN E-Commerce Ventures, the parent firm of Nykaa. Aftet the IPO, they will continue to own a majority stake, the Economic Times report said.
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