High six workers of Nykaa set to make over ₹850 crore

Six senior executives at Nykaa stand to make a complete of greater than 850 crore or $115 million via their shareholding and vested choices as the corporate’s preliminary public providing (IPO) opens on 28 October.

The six executives head varied divisions within the on-line magnificence, wellness and trend merchandise vendor.

Reena Chhabra, the chief government officer of the corporate’s personal label division FSN Manufacturers, stands to make 250 crore with 2.1 million shares and 0.12 million worker inventory choices (ESOPs). Chhabra has been related to FSN Manufacturers since Could 2016. The overall remuneration paid to her in FY21 was 3.06 crore, in keeping with the draft crimson herring prospectus (DRHP) filed by the corporate.

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Potential windfall

Nihir Parikh, chief government officer Nykaa, Man Enterprise, one of many arms of Nykaa E-Retail, holds greater than 2 million shares and 0.12 million Esops value 245 crore. He joined the agency in 2015 and drew a wage of 2.83 crore in FY21.

Sanjay Suri, the chief know-how officer of Nykaa E-Retail, has 1.8 million shares and 0.15 million Esops, collectively value 220 crore. Suri, who joined the agency in 2016, was paid 2.39 crore in FY21.

Manoj Jaiswal, the chief provide chain officer, Nykaa E-Retail, holds shares and choices value 63 crore, whereas Arvind Agarwal, the chief monetary officer of the agency, has shares and choices value 45 crore. Gopal Asthana, the chief enterprise officer of Nykaa Trend, has shares and choices value 29 crore.

Nykaa, operated by FSN E-Commerce Ventures Pvt. Ltd, goals to listing at a bit of greater than a $7 billion valuation later this week. It is a important leap from its final personal commerce, which the corporate struck at a valuation of about 9,300 crore ($1.25 billion) in November 2020.

On the time, Constancy Administration and Analysis LLP acquired the corporate’s shares from some early traders, in keeping with the crimson herring prospectus. At this valuation, the online value of the promoters via their group entities Sanjay Nayar Household Belief, Falguni Nayar Household Belief, Anchit Nayar Household Belief and Adwaita Nayar Household Belief is $3.83 billion.

On the IPO valuation, Hero Group founder Sunil Kant Munjal’s 2016 funding within the agency jumps 19-fold. His common value of acquisition per fairness share was 56.54 a share for 119 crore. On the IPO higher band value, Munjal is sitting on a stake value 2,413 crore.

Narotam Sekhsaria, who has invested round 19 crore within the agency at a median value value of 9.86 a share, will see his stake worth surge greater than 11,443% to 1,944 crore. Sekhsaria first invested in 2014.

PE agency TPG Development, which invested round 191 crore in 2019 at a median value of 117.67 a share has seen its stake develop by 868% to 1,853 crore.

Harindarpal Singh Banga and his spouse Indra Banga had been two of the earliest traders in Nykaa, having invested near 25 crore cumulatively, between 2014 and 2016. Their present stake of 8.7% has a median buy value of 7.32 per share, and on the present IPO valuation, it’s value 4,633 crore–a leap of over 190 instances.

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