The country’s top E-Commerce beauty, wellness, and fashion website founded in 2012 by ex-investment banker, Falguni Nayar look all set to file Nykaa IPO which would value up to $4 million or more.
Nykaa, who has expanded its wide range of products apart from beauty is currently resourcing 2,000 brands and 200,000 products across its platform with an aspiration to launch IPO for the company’s profitability and to expand the company further. This Mumbai-based company with current revenue of $265.71 million and a net worth of $380,821,917 competes with Kotak Mahindra Capital and Morgan Stanley for its initial IPO launch. The draft red herring prospectus (DRHP) is to be filed within a few days while the plan is to sell 10% of the equity, seeking a raise of $500 million in the initial listings.
The company is also looking for listings into both the stock markets, BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) The date of launch for Nykaa IPO is not yet announced but it is estimated to be launched in the later of 2021 or at the beginning of 2022.
The valuation of the company has not been finalized as the market value keeps changing daily in this rapid growth marketplace, though the investors are keen and interested in the eager announcement for Nykaa’s IPO launch date as Nykaa is considered to be one of the most successful unicorn startups in India. And also, Nykaa’s IPO is most likely to be the highlighted IPO of the year.
The food delivery app Zomato has become the first unicorn startup to make its debut into the stock market in June 2021, raising $1.3 billion. Nykaa will be joining the other e-commerce companies such as Zomato, Flipkart, and Pepperfry in the capital market. The online insurance company Policybazar by Japan’s Softbank group corp is expecting to file the draft red herring prospectus in the coming days while other more startups are aiming to file IPO in the coming up year.