Nykaa Set To File IPO Papers Soon
Nykaa Set To File IPO Papers Soon

India e-commerce platform Nykaa is preparing to file for an initial public offering. It is estimated to value the start-up for close to $4 billion.  Founded by Falguni Nayar, the nations’ leading e-commerce company in terms of beauty is aiming to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of […]

India e-commerce platform Nykaa is preparing to file for an initial public offering. It is estimated to value the start-up for close to $4 billion. 

 

Founded by Falguni Nayar, the nations’ leading e-commerce company in terms of beauty is aiming to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), within the next few days according to sources who wish to remain anonymous on this private matter. It plans to sell just over 10 per cent of the equity, one of the sources said, which could raise $400 million or more.

 

Also Read; Everything You Need To Know About Zomato’s IPO

 

But as is the case with IPOs, the final evaluation would come through discussions with investment bankers and potential investors. 

 

Any valuation could still change, and market conditions could also play a pivotal role in the calculations.

 

Nykaa is yet to comment on its timing and more details are awaited. 

 

It has, however, changed its status from a private company to a public one ahead of the filing of the IPO.

 

Recently, the food related app Zomato Ltd. became India’s first unicorn to make its stock-market debut this month, raising $1.3 billion. Its shares have soared more than 75 per cent, giving the money-losing business a valuation of $14 billion.

 

The online insurance platform Policybazaar, backed by Japan’s SoftBank Group Corp., is also expected to file its DRHP in the coming days, with over a dozen technology start-ups aiming for IPOs through next year.

 

Nykaa is likely to be the first profitable start-up to bring about a public issue in the country. Post-listing, Falguni Nayar, the founder and CEO and her family are likely to own over 51 per cent stake.

 

Nykaa logs approximately 55 million monthly visits and has over 1,200 brands registered, ranging from makeup to health supplements to skincare products. It has six warehouses in the country, and receives over 13 million orders every month.

contact us :
editor@mansworldindia.com
Follow US :
Instagram
Facebook
Twitter
YouTube
©2024 Creativeland Publishing Pvt. Ltd. All Rights Reserved