Nykaa to launch IPO on 28 October, seeks $7.4B valuation
Beauty and fashion e-commerce platform Nykaa was approved for its initial public offering by the Securities and Exchange Board of India last week. The company has now announced that it will be launching its IPO on 28 October 2021. It is looking to reach a valuation of $7.4 million dollars through the IPO.
As per the company’s draft red herring prospectus (DRHP), the 5200 crore IPO will comprise the fresh issuance of stocks worth Rs. 630 crore and an offer for sale (OFS) of over 43.11 million shares.
Existing stakeholders expected to sell a portion of their stakes include the Sanjay Nayar Family Trust with up to 48 lakh equity shares, TPG Growth IV SF Pte Ltd with 54.21 lakh shares and Lighthouse India Fund III with 48.44 lakh shares through the OFS, etc.
The company plans to use the capital raised to invest in its subsidiaries, open retail store, and repay its existing debt.
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