Nykaa all set for $4 billion IPO
The beauty start-up has been founded by former banker Falguni Nayar
Online beauty products retailer Nykaa has filed preliminary documents with SEBI for an initial public offering, which according to media reports, could value the business, led by former banker Falguni Nayar, at more than $4 billion.
If the IPO goes as per the plan, Nykaa will be India’s first women-led unicorn to go public. The company was founded by Nayar in 2012. Nayar owns about half of the company with her husband and children. If the Nykaa IPO goes as planned, the value of their stake could exceed $2 bn.
The startup, formally known as FSN E-Commerce Ventures Ltd. The Mumbai-headquartered startup now offers more than 2,500 brands. The company hit reve-nue of Rs 24.5 billion ($330 million) in revenue and other income in the fiscal year ended in March, according to its filing.
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