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Nykaa IPO opens tomorrow, company seeks valuation of over $7 billion

Nykaa IPO: Existing buyers like akin to TPG Growth IV SF Pte, Lighthouse India Fund and others are anticipated to dump their shares within the preliminary public providing. Nykaa was based by former funding banker Falguni Nayar in 2012.

E-commerce magnificence company Nykaa will open its preliminary public providing (IPO) to subscribers on Thursday. FSN E-Commerce Ventures Ltd, which operates Nykaa, on Monday mentioned it has mounted a worth band of 1,085-1,125 per share for the IPO.

The IPO will open for subscription on October 28 and shut on November 1. Nykaa is aiming for a complete valuation of over $7 billion by means of the IPO route.

It includes of fairness shares aggregating as much as 630 crore (recent situation) and a suggestion on the market of as much as 41,972,660 fairness shares being provided by the promoting shareholders (supply on the market or OFS), an announcement mentioned.

Investors will be capable to make bids for a minimal of 12 fairness shares and in multiples of 12 fairness shares thereafter. The supply features a reservation of as much as 250,000 fairness shares for buy by eligible staff, the assertion additional mentioned.

Existing buyers like akin to TPG Growth IV SF Pte, Lighthouse India Fund and others are anticipated to dump their shares within the IPO.

Nykaa was based by former funding banker Falguni Nayar in 2012. She nonetheless owns greater than 50 per cent share within the company. Nykaa provides 4,000 magnificence, personal care and vogue manufacturers by means of its web site, app and 80-odd brick-and-mortar shops.

The company posted a web revenue of 61.9 crore in FY21 in comparison with a loss of 16.3 crore in FY20. Its whole revenue stood at 2,452.6 crore in FY21 as in opposition to 1,777.8 crore in FY20.

Nykaa mentioned that in FY2021, 17.1 million orders had been positioned on its platform with a complete gross merchandise worth (GMV) of 33,804.1 million, a 35.3 per cent enhance over FY2020.

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