Nykaa IPO Sees Valuation Surge To $13 Billion

• ByStartupStory     |    November 10, 2021

Nykaa, a cosmetics-to-fashion platform, had a blockbuster debut on Wednesday, valuing the Indian company at about $13 billion, in the latest startup listing following Zomato’s successful debut in July. After beginning at 2,018 in pre-open trade, shares of FSN E-Commerce Ventures, the profitable firm that owns the Nykaa brand, skyrocketed 89.2 percent to 2,129. The initial public offering (IPO) price of 1,125 was 79.4 percent higher than the debut price, giving the business a valuation of 95,437 crore.

The company’s initial public offering last week was roughly 82 times oversubscribed, indicating high investor demand for a startup that, unlike many others, has already established profitability.

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