New Delhi: Nykaa, the online beauty startup that received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) earlier this month, is set to open its IPO on October 28, the report said. has gone.
The Economic Times reported that Nykaa will launch a three-day IPO and plans to raise Rs 5,200 crore through it.
According to the report, the date of the IPO has been fixed from October 28 to November 1 and will include a primary issue of stock worth Rs 630 crore.
41,972,660 shares will be available through offer-for-sale.
“The company is seeking a valuation of around $7.4 billion,” the report quoted a person familiar with the developments as saying.
Nykaa got SEBI nod for IPO on October 14.
The startup is led by former investment banker Falguni Nair. Established in 2012, Profitable Unicorn 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.
According to Moneycontrol, TPG and Fidelity are among the investors in the company and its FY21 revenue from operations stood at Rs 2,440 crore.
Falguni Nair and his family currently hold over 53 per cent stake in Nykaa’s parent firm FSN E-Commerce Ventures. After the IPO, they The Economic Times report said that the majority stake owner will remain.
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