Nykaa to launch IPO on Oct 28
FSN E-Commerce Ventures Ltd, the parent company of online beauty e-commerce platform Nykaa, is going to launch its Initial public offering (IPO) on October 28, 2021.
image for illustrative purpose
Hyderabad: FSN E-Commerce Ventures Ltd, the parent company of online beauty e-commerce platform Nykaa, is going to launch its Initial public offering (IPO) on October 28, 2021. The company said that it has fixed a price band of Rs1,085-1,125 per share for its IPO and is going to raise Rs5,352 crore at a valuation of $7.1 billion.
The IPO will open for subscription on October 28 and conclude on November 1, 2021. It comprises a fresh issue of equity shares aggregating up to Rs 630 crore and an offer for sale (OFS) of up to 41,972,660 equity shares being offered by the selling shareholders, it said. The offer includes a reservation of up to 250,000 equity shares for purchase by eligible employees, it added.
Founder Falguni Nayar and her family will continue to own a majority stake after the IPO. They currently hold more than 53 per cent in FSN E-Commerce Ventures. The company reported a net profit of Rs 61.96 crore in the fiscal ended on March 31, 2021. Compared to a net loss of Rs 16.34 crore the previous year. Revenue grew 38 per cent year-on-year to Rs 2453 crore in FY21.
