Nykaa IPO Price Band: According to Red Hearing Prospects (RHP), the subscription of the IPO will be open for three days and it will close on November 1.
Nykaa IPO Date: The IPO of FSN E-Commerce Ventures Limited, which operates beauty startup brand Nykaa, will open on October 28. The company has fixed the price band for its IPO at Rs 1085-1125 per share. According to Red Hairing Prospects (RHP), the subscription to the IPO will remain open for three days and will close on November 1. FSN E-commerce Ventures sells beauty and wellness product Nykaa online. The company plans to raise Rs 5,355 crore from this issue.
Nykaa IPO: Fresh issue of Rs 630 crore
According to the company’s RHP, the company will raise Rs 630 crore through fresh issue in the IPO. Whereas, through Offer for Sale (OFS), the promoters and existing shareholders will sell 4.19 crore shares. Earlier, the size of the fresh issue was Rs 525 crore.
The shares that are being sold through OFS are promoters Sanjay Nair Family Trust & Shareholders – TPG Growth IV SF Private Limited, Lighthouse India Fund III, Ltd., Lighthouse India III Employee Trust, Yogesh Agencies & Investments, JM Financial & Investment Services and Consultancy Services Some of these individual shareholders are included. Market regulator SEBI on October 12 had approved the initial share sale (IPO).
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According to the company’s draft papers, Nayka will use the money raised from the IPO for expansion. This includes building new retail stores and new warehouses. Also, the plan of the company is to reduce some of its debt, so that the liability of interest on the company is reduced and profits increase. Apart from this, the company will also use the money raised through the public issue for marketing and promotion of 13 existing and new brands such as Nykaa Cosmetics, Nykaa Neutrals and K Beauty.
company formed in 2012
Falguni Nayar founded FSN E-Commerce Ventures Limited in 2012. It is an online consumer technology platform. This company delivers lifestyle products, beauty, personal care and fashion products to the consumers. This includes the company’s own branded products under its two business verticals, Nykaa and Nykaa Fashion.