FSN E-Commerce Ventures Ltd, the company behind Nykaa, is an online beauty e-commerce platform. It announced on Monday that it set a price range of Rs 1,085-1,125 per share for its initial public offering (IPO), which will open for a subscription later this week. The IPO will begin accepting subscriptions on October 28 and end on November 1.
According to the statement, the IPO consists of a fresh issue of equity shares worth up to Rs 630 crore (New issue) and an offer for sale of up to 41,972,660 equity shares offered by selling shareholders (offer for sale or OFS). It further stated that the plan includes a reservation of up to 250,000 equity shares for eligible employees to purchase.
Nykaa, a digitally native consumer technology platform, was founded in 2012 to provide consumers with a content-driven, lifestyle shopping experience. It offers a wide range of beauty, personal care, and fashion products, and its brand products get made by third parties.
Although Web access appeared to be “very strong” at 660-690 million subscribers, Nykaa Executive Chairperson, MD, and CEO Falguni Nayar remarked in a digital meeting that the online customer basis was still just 150-180 million. That, she projected, would likely climb in the next five years, with the glamour segment expected to grow from $16 billion to $28 billion and the apparel segment expected to grow from $54 billion to $124 billion.
Nykaa will also consider worldwide expansion, she noted. “At the moment, we are very keen to go into the Middle East, where we believe there is a lot of affinity to Indian consumption, and in the Middle East, we want to take many of our Indian brands, including Kay beauty, which could do very well in these markets as well as the United Kingdom.” “Europe is another area of possibility, but we’ll start with the United Kingdom,” she explained.
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