23rd October 2021, Mumbai:
Through its initial public offering (IPO) closing on November 01, 2021, FSN E-Commerce Ventures, the owner of Nykaa, plans to raise Rs 5,200 crore in investments. The IPO will open on 28 October for the subscription.
The company has increased fresh issue to Rs 630 crore from Rs 525 crore. The offer for sale has been reduced to 41.97 million shares from 43.11 million shares. The firm plans to list on 11 November.
Nykaa will invest Rs 35 crore from the issue in its arms FSN Brands or Nykaa Fashions for funding the establishment of new retail stores. It will invest another Rs 35 crore and Rs 130 crore in capital expenditure and repayment of debt. Nykaa will also use Rs 200 crore to enhance the visibility and awareness of its brands.
Founded in 2012 by investment banker Falguni Nayar, Nykaa is a leading player in the online beauty aggregator segment. The firm is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care, and fashion products, including brand products manufactured by it.