nykaa ipo: Nykaa will get Sebi’s nod for IPO, to file up to date DRHP at this time with larger main subject

Mumbai: Omni-channel magnificence and consumer-care merchandise retailer Nykaa obtained clearance from the Securities and Trade Board of India (Sebi) on Thursday for an preliminary public providing, sources with data of the event stated. The corporate is more likely to file an up to date draft crimson herring prospectus with the market regulator Sebi on Thursday to extend the first subject dimension from Rs 525 crore to Rs 630 crore, in accordance with banking sources.

The IPO may even embody a suggestion on the market (OFS) through which present shareholders will promote as much as 431.1 lakh shares.

The Sanjay Nayar Household Belief, a promoter, will promote 48 lakh shares and different traders that can dilute their stakes embody TPG, Mild Home India Fund, JM Financials, Yogesh Businesses, Sunil Kant Munjal, Harindarpal Singh Banga, Narotam Sekhsaria, Narotam Sekhsaria and Mala Gaonkar, in accordance with the corporate’s draft IPO prospectus, which it had filed it August.

Founder Falguni Nayar and her household will proceed to personal a majority stake within the firm even after the IPO, as reported by ET. At present, Nayar, along with her husband Sanjay Nayar and two kids, maintain greater than 53% within the mum or dad agency of Nykaa-FSN E-Commerce Ventures.

The Mumbai-based firm has appointed funding banks similar to Kotak Mahindra Capital, BofA Securities, ICICI Securities, Citibank, Morgan Stanley and JM Monetary to handle its public subject.

Nykaa is among the many solely few worthwhile etailers in India. It reported a internet revenue of Rs 61.96 crore in FY21 in comparison with a internet lack of Rs 16.34 crore in FY20. Its revenues additionally grew 38% to Rs 2,453 crore in FY21.

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It stated it will use Rs 130 crore to repay its money owed and Rs 200 crore to market its manufacturers.

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