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Subscribe to FSN E-Commerce Ventures: Motilal Oswal

Motilal Oswal has come out with its report on FSN E-Commerce Ventures. The research firm has recommended to ''Subscribe'' the ipo in its research report as on October 26, 2021.

October 27, 2021 / 12:00 PM IST
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Motilal Oswal IPO report on FSN E-Commerce Ventures

Incorporated in 2012, Nykaa is a digitally native consumer technology platform, delivering a content-led, life style retail experience to consumers. Leading specialty Beauty and Personal Care (BPC) platform in India: Nykaa is the largest Specialty BPC Platform in India and enjoys the highest Average Order Value (AOV) among its peers. It has the largest luxury BPC platform. It is one of the fastest growing fashion platforms in India based on GMV (Gross Merchandise Value) growth. Fashion started in 2018 and now contributes ~16% to GMV, up from 10% in FY20.

Valuation and Outlook

We believe Nykaa is rightly placed to tap the high growth digital/online penetration in BPC/Fashion market. We recommend Subscribe. Investors with high risk appetite can Subscribe for Listing Gains given fancy for unique and first of its kind listing in the e-commerce space.

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