Tech

Nykaa raises Rs 63 billion through IPO with SEBI approval: Report

Indian start-ups are growing rapidly, with more than 30 unicorns in 2021 (so far). This also means that the early market turmoil is maturing and many companies are open to the public, including Zomato, Paytm and others. After the startup receives a green light from the Indian Securities and Exchange Commission (SEBI) for an initial public offering (IPO), the list will include omni-channel beauty and consumer care product retailer Nykaa. Entrackr Status.

The report claims that the company will revise the draft Red Herring Prospectus (DRHP) to increase the size of the new offer by 105 chlores and then raise approximately 630 chlores through new issuance of shares.

The IPO also includes an initial public offering (OFS) in which existing shareholders sell up to 43.1 million shares. Nykaa may enter the stock exchange by the end of this month. With an IPO, startups will be worth more than 40,000 chlores.

According to the startup, the proceeds will be used to expand and set up new retail stores and warehouses, fund online operations, and repay borrowers. Sanjay Nayar Family Trust sells 48 Rakı shares, with other investors such as TPG, Light House India Fund, JM Financials, Yogash Agencies, Sunil Kant Munjal, Harindarpal Singh Banga, Narotam Sekhsaria, Narotam Sekhsaria and Mala Gaonkar. Dilute. .. However, Nair and his family will continue to own a majority stake.

What makes 9-year-old Nykaa unique among the recently released startups? Founded by former investment banker Falguni Nayar, the portfolio includes over 1,500 brands, including major luxury brands such as Bobbi Brown, L’Occitane and Estee Lauder. It is also one of the few highly profitable start-ups that made its debut on the stock exchange this year, with revenues of 1,860 chlores in 2008 and net income of 61.9 chlores in 2009.

Nykaa raises Rs 63 billion through IPO with SEBI approval: Report

Source link Nykaa raises Rs 63 billion through IPO with SEBI approval: Report

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