e-Commerce beauty brand Nykaa to go public with $4.5Bn valuation

Date: 2021-06-04   Author: Pankaj Singh  Category: #news

e-Commerce beauty brand Nykaa to go public with $4.5Bn valuation

Nykaa, a beauty, wellness, and fashion products retailer, is reportedly targeting an Initial Public Offering (IPO) with a valuation of $4.5 billion in FY 2021, a hike from its earlier valuation of nearly $3 billion.

The significant expansion of the beauty brand can be credited to the shifting preferences of customers from offline to online sales channels amid the coronavirus pandemic.

Founded in 2012 by Falguni Nayar, a former investment banker, the online beauty company will maintain the size of its IPO at between $500 million to $700 million, sources familiar with the matter cited. The considerable surge in its overall revenue is attributable to its rising revenue and profit, mainly during the health crisis posed by the pandemic.

Sources further added that the holding company of Nykaa, i.e. FSN Ecommerce Ventures Pvt. Ltd, will file the draft red herring prospectus by the end of June or early July in 2021. In addition, the brand’s IPO is slated to take off in the March quarter of the fiscal year. This public offer will come along with a sale offer to ensure an exit for the existing investors. Its price band is not yet decided, while the public is likely to be offered a 10% to 20% stake for an adequate free-float.

Morgan Stanley & Kotak Mahindra Capital Co. have been chosen as the managers for the initial public offering of the online beauty retailer. Apart from the company, other unicorn startups have also been planning to go public in recent months.

As per reliable reports, Nykaa, however, will become the only startup that is profitable and fits the criteria to list on the Indian stock exchanges’ main board. The company is the largest omnichannel marketplace across the country, with nearly 15 million registered users and 1.5 million orders per month.

Source credit:

https://www.businesstoday.in/markets/ipo-corner/nykaa-ipo-beauty-retailer-seeks-45-bn-valuation/story/440605.html



About Author


Pankaj Singh linkdin-boxtwitter

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

Post Recommendents

Paytm Money unveils Pops messenger to offer user-specific insights

Author: Pankaj Singh

Paytm Money Limited, a fully-owned subsidiary of One97 Communications Ltd, has reportedly launched AI-based Pops messenger to offer user-specific insights on stocks, portfolios, and market analysis.

Flexible Dies Market 2022, Global Industry Size, Share, Analysis, Trends, Overview and Segmentation 2028

Author: Ashwin Naphade

The Global Flexible Dies Market Report includes a comprehensive analysis of the present industry status offering basic Flexible Dies overview and then goes into each and every detail.

.

Request a sample Report of Flexib...


Overhead Catenary Working Vehicles Market Size, Share, Statistics, Trends, Types, Applications, Analysis and Forecast, Global Industry Research 2028

Author: Ashwin Naphade

Global Overhead Catenary Working Vehicles Market analysis report speaks about the manufacturing process. Global Overhead Catenary Working Vehicles market report analyses the market growth, trends, overview & forecast to 2028.The report covers ...