The Securities and Exchange Board of India (SEBI) has approved the Rs 4,000 crore IPO of Nykaa. CNBC-18 has given this information quoting sources.
Online beauty retail startup Nykaa may have a valuation of Rs 40,000 crore for this IPO. Nykaa will raise Rs 525 crore in its IPO through a fresh issue. Apart from this, there will also be an offer for sale of 4.31 crore shares in this IPO.
Most of the Rs 4,000 crore to be raised in this IPO will be used to pay off existing shareholders who have sold their stake. Shareholders like Sanjay Nair, TPG, Lighthouse and Sunil Munjal will sell their stake in this IPO.
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Nykaa is a one of its kind startup which is going to knock in the IPO market. This is the first unicorn to bring an IPO so far that is profitable. Apart from this, it is the only new generation company in the country, despite the valuation of which is in the billion dollar, the promoter group’s stake in it is more than half.
Nykaa was founded in 2012 by Falguni Nair, a former investment banker. The company sells beauty products. Apart from online sales, the company also sells through retail outlets. Its investors include big investors like TPG and Fidelity.
Nykaa’s portfolio includes over 15,000 brands. It also has big names like Bobbi Brown, L’Occitane and Estee Lauder. The company has 68 stores across the country. The company’s income in the financial year 2022 has been Rs 1,860 crore.
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