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Nykaa IPO: GMP, other details as issue opens for subscription this week – Mint

Nykaa’s parent FSN E-Commerce Ventures has priced its initial public offering (IPO) at 1,085 to 1,125 per share, giving it a valuation of as much as $7.11 billion. The three-day initial share sale will be open for subscription on Thursday, October 28 and conclude on November 1.

Nykaa’s IPO comprises of a fresh issue of equity shares aggregating upto 630 crore and offer for sale (OFS) of 41,972,660 equity shares by promoters and existing shareholders. Currently, promoter hold around 45.99% of the issued, subscribed and paid-up equity share capital of the company.

As per market observers, the grey market premium (GMP) today is strong at 690. Nykaa shares are expected to list on November 11 on the leading stock exchanges BSE and NSE.

Nykaa plans to use the IPO proceeds to set up new retail stores, fund capital spending and repay debts. Kotak Mahindra Capital Company, Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, JM Financial and ICICI Securities are merchant bankers to the issue.

The company reported a net profit of 61.9 crore for FY21 as compared to a a loss of 16 crore in the previous fiscal. Its revenue from operations jumped to 2,441 crore from 1,768 crore. For the 3 months ended June 30, 2021, the total GMV was 1,469.6 crore.

Nykaa opened first physical store in 2014, and has 80 physical stores across 40 cities as of August 31, 2021. Their physical stores currently exist in 3 formats, Nykaa Luxe, Nykaa On Trend and Nykaa Kiosks

FSN E-Commerce Ventures Limited (Nykaa) was incorporated on April 24, 2012. Nykaa is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. They have a diverse portfolio of beauty, personal care and fashion products, including their owned brand products manufactured by them.


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