E-commerce Beauty Platform- Nykaa’s IPO oversubscribed by 82 times

• ByStartupStory     |    November 2, 2021

The beauty platform Nykaa saw bids worth $32.55 billion as its Initial Public Offer was oversubscribed by 82 times reflecting strong investor demand for the startup.

The FSN E-commerce ventures, the company that owns Nykaa, valued the Rs. 53.52 billion IPO between the price ranges of Rs. 1,085 to Rs. 1,125 thus valuing the startup at $7.1 billion. Additionally, the e-commerce platform received 40 times more bids in its anchor investors round of funding.

Founded in 2012 by former investment banker, Falguni Nayar, Nykaa is an e-commerce beauty platform which offers a one-stop solution to all cosmetic needs of customers. The platform offers indigenous, international, branded as well as luxurious cosmetic products all at one place.

With the Indian beauty and fashion market expected to grow to about $28 billion, Nykaa’s IPO happens to be the highest subscribed IPO since 2016.

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