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Beauty startup Nykaa files papers with Sebi to raise around Rs 4,000 crore via IPO

Nykaa was founded in 2012 by former investment banker Falguni Nayar and is a leading destination for beauty products, armed with its own chain of physical outlets and ($250 million) in revenue in fiscal 2020.

August 03, 2021 / 05:53 PM IST
Nykaa posted revenue of Rs 1,860 crore in FY20, making it possibly the only profitable unicorn that is going public. (Representative image)

Nykaa posted revenue of Rs 1,860 crore in FY20, making it possibly the only profitable unicorn that is going public. (Representative image)

Cosmetics retailer Nykaa has filed papers with market regulator Sebi to raise around Rs 4,000 crore via an initial public offering (IPO), people familiar with the matter told Moneycontrol.

Moneycontrol had first reported on July 28th, 2021 that the DRHP would be filed with the regulator shortly

Nykaa was founded in 2012 by former investment banker Falguni Nayar and is a leading destination for beauty products, armed with its own chain of physical outlets and ($250 million) in revenue in fiscal 2020. Its investors include TPG and Fidelity.

The company now boasts of over 1,500 brands in its portfolio, including leading luxury labels like Bobbi Brown, L’Occitane and Estee Lauder, and it has even opened 68 brick and mortar stores in the country. Nykaa posted revenue of Rs 1,860 crore in FY20, making it possibly the only profitable unicorn that is going public.

“Rs 550 crore is the primary component and the rest is secondary,” said one of the individuals cited above. A second individual confirmed the same.

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Kotak Mahindra Capital, Bofa Securities, Citi, JM Financial, Morgan Stanley and ICICI Securities are the i-bankers working on the issue, a third individual added.

All the three individuals spoke to Moneycontrol on the condition of anonymity. We could not elicit an immediate comment from Nykaa or its advisors.
Ashwin Mohan
first published: Aug 2, 2021 09:34 pm

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