Nykaa IPO announces price band, to launch on October 28

Mumbai -Nykaa is joining the bandwagon with other Indian startups and launching its IPO (initial public offering). IPO of FSN E-Commerce Ventures that runs online marketplace Nykaa, for beauty and wellness products. It is set to open for public subscription next week on Thursday, October 28. The three-day-long initial public offering will end on November 1, Monday. On October 11, Nykaa had received the green flag from the Indian market regulator Securities and Exchange Board of India (Sebi) to raise funds through a public offering.

The price band has been disclosed of the initial share sale at Rs 1,085 – 1,125 per share.

The entities who are selling their shares in the OPS are promoter Sanjay Nayar Family Trust and shareholders Lighthouse India Fund III Limited, TPG Growth IV SF Pte Ltd, Lighthouse India III Employee Trust, J M Financial and Investment Consultancy Services, Yogesh Agencies & Investments and some individual shareholders. Those selling shares in the OFS (offer for sale) are promoter Sanjay Nayar Family Trust and shareholders, TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Limited, Yogesh Agencies & Investments, and some individual shareholders.

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The initial share sale includes a fresh issue of equity shares worth Rs 630 crore and an offer for sale (OFS) of 4.19 crore shares by promoters and existing shareholders. Nykaa was founded in 2012 by Falguni Nayar, a former investment banker. Now Nykaa is India’s leading multi-brand beauty & personal care platform.

The firm plans to use IPO proceedings for expanding its business – new retail stores along with expansive warehouses. Some funds would also be used to release some debt which will further reduce interest and increase profitability. The company has reported a net profit of ₹61.9 crore for Financial Year 2021 as compared to loss of ₹16 crore in the previous fiscal. Nykaa’s revenue from operations has jumped to ₹2,441 crore from ₹1,768 crore