New Delhi: E-commerce beauty website, Nykaa is all set to open its initial public offering (IPO) for customers on Thursday, October 28. The Falguni Nair-led company is eyeing a valuation of $7 billion.
According to reports, Nykaa’s IPO subscription will open on October 28 and close on November 1, 2021. The company will offer a price band with a lower limit of Rs 1,085 and a higher limit of Rs 1,125 per share.
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As reported by CNBC TV18, the Nykaa IPO will involve equity shares of Rs 630 crore through fresh issue and Rs 4,721 crore by promoters and existing shareholders through Offer for Sale (OFS). The issue size of the upper end of the price band will be Rs 5,351.92 crore.
Promoter Sanjay Nair Family Trust will sell 48 lakh equity shares. Whereas, investors of the company such as TPG Growth IV SF Pte Ltd and Lighthouse India Fund III will sell around 54 lakh and 48 lakh shares, CNBC TV18 reported.
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During the Nykaa IPO, investors can place their bets in lots of 12 shares or multiples thereof. Whereas a retail investor will be allowed to bid for a maximum of 14 shares. The lot placed at the upper end of the price band has been set at Rs 13,500.
FSN E-commerce Ventures, which owns Nykaa and Nykaa Fashion, was incorporated in 2012. The headquarter of the company is in Mumbai. Beauty e-commerce platform offering beauty, fashion and personal care products.
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