Nykaa debuts IPO, valuation at $14B
Nykaa’s parent company FSN E-Commerce Ventures launched its initial public offering (IPO) on Wednesday. The e-commerce platform surged 96%, thus skyrocketing its valuation to nearly $14 billion. FSN E-Commerce Ventures’ shares ended at Rs 2,205.80 after debuting at Rs 2,018 in pre-open trade.
Founded in 2012 by Falguni Nayar, Nykaa gained renown for selling cosmetics and grooming products from domestic and international brands.
assistant vice-president, retail research at Motilal Oswal Financial Services. Sneha Poddar stated, “Nykaa is one of the very few profitable new-age companies and the first women-led unicorn that has also attracted lot of investor interest.”
She added, “(Its) key strengths lie in its inventory-led business model for the beauty and personal care segment.”
The company’s steller listing has shot Nayar into the list of the world’s wealthiest with a networth of $6.5 billion.
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