Nykaa Files For IPO, Wants To Raise Funds
- ByAyushi Ray | August 3, 2021
Cosmetics and beauty startup Nykaa files for IPO, wants to raise funds. The Nykaa IPO will comprise fresh issue of shares of up to Rs 525 crore and an offer for sale of up to 4.3 crore shares by existing shareholders. The issue will see promoter Sanjay Nayar Family Trust and other investors such as TPG, Light House India Fund, and JM Financials sell their shares. Nykaa was founded by Falguni Nayar in 2012. It reported a net profit of Rs 62 crore in FY21, as against a loss of Rs 16 crore in FY20. Nykaa reported a revenue of Rs 2,453 crore for FY21, a 39 per cent rise when compared to Rs 1,768 crore for FY20. The issue size of Nykaa’s IPO was not disclosed, but it is estimated to be around Rs 4,000 crore.
Nykaa has been quite successful, being the most popular app which deals with cosmetics and beauty and lifestyle products. Judging that way, it has quite a good chance of raising funding from the IPO. The Indian beauty and personal care market is estimated to grow to approximately $28 billion by the calendar year 2025 from $16 billion in the calendar year 2020. The Indian fashion market is estimated to grow to approximately $124 billion by the calendar year 2025 from $54 billion in the calendar year 2020. Nykaa has an omnichannel presence with 73 physical stores across 38 cities in three different formats. It registered 66 crore visits to its beauty and personal care websites and mobile apps in FY21 as compared to 57 crore in FY20.
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