Nykaa (India) is planning an initial public offering (IPO) with a valuation of $4.5 billion

Nykaa (India) is planning an initial public offering (IPO) with a valuation of $4.5 billion

18th August 2021, Mumbai:

Nykaa, an India-based multi-brand cosmetics and fashion store, will conduct an initial public offering (IPO) later this fiscal year with a valuation of US $ 4.5 billion, a significant increase from its previous valuation of over US $ 3 billion.

A jump in sales and profit, owing to a large increase in people buying online during the COVID-19 epidemic, has boosted the retailer's total worth.

Nykaa, India's top player in the market, has submitted a regulatory filing with the SEBI, indicating that it wants to sell up to 43 million shares for 5.25 billion rupees (about $70.8 million).

Nykaa, India's largest omnichannel marketplace for women, was founded in 2012 and has around 15 million registered members. A total of 1.5 million orders are processed each month by the cosmetic shop. Since its start, Nykaa has expanded its offerings to include men's, luxury, and private label beauty verticals, as well as fashion, jewelry, and home décor items.

Nykaa is one of the rare start-ups to file for an IPO after reporting a profit, and its registration with the SEBI is being hailed as a watershed moment for Indian markets. Nykaa is also one of the few Indian firms managed by a woman, Falguni Nayar, a banker-turned-entrepreneur and the company's Founder and Chief Executive Officer.

Despite the epidemic, Nykaa's approach is viewed as opportune by industry observers in a market dominated by global companies — US e-commerce giants Amazon and Walmart-owned Flipkart, as well as Sephora in brick-and-mortar.

NYKAA To Expand Footprint in Experiential Marketing; CEO Reveals More -  India News & Updates on EVENTFAQS

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