Private fairness agency TPG-backed Indian e-commerce magnificence firm Nykaa has filed for an preliminary public providing (IPO), changing into the most recent homegrown startup to pursue a list on the home bourses.
Nykaa’s submitting comes after food-delivery agency Zomato’s stellar debut final month. Berkshire Hathaway-backed Paytm, hospitality firm Oyo Hotels and ride-hailing agency Ola, each backed by SoftBank, are amongst different Indian startups set to enter markets.
Nykaa, formally often called FSN E-Commerce Ventures, mentioned its IPO will encompass a recent problem of shares of as much as Rs. 525 crores and a suggestion for sale of as much as 43.1 million shares, in keeping with a duplicate of its draft pink herring prospectus dated Monday.
Launched in 2012, Mumbai-based Nykaa grew common by promoting cosmetics and grooming merchandise on its web site and apps, earlier than increasing into style, pet care and family provides.
As of March 31, the corporate had cumulative downloads of 43.7 million throughout all its cellular functions. It additionally has an offline presence comprising 73 bodily shops throughout 38 cities in India, the prospectus confirmed.
Aside from TPG, the corporate additionally counts monetary providers firm Fidelity and common Indian movie actress Alia Bhatt amongst its traders. Nykaa will use the IPO proceeds to arrange new retail shops, fund capital expenditure and repay money owed, in keeping with the prospectus.
Morgan Stanley, BofA Securities, and Citigroup are among the many lead e-book working managers to the IPO.
© Thomson Reuters 2021
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