Nykaa was started in 2012. It was the most different startup company in the country. Started by investment banker Falguni Nair, Nykaa is one of the few online retailers that are running in profit in India.
If you are thinking of earning from Initial Public Offer (IPO), then a great opportunity is here for you. You will get a chance to invest money in a company with a turnover of millions. Nykaa is the most popular online brand of beauty and personal care products. Nykaa's IPO opened today on 28th October 2021. Nykaa is owned by the company FSN E-Commerce Ventures and is vouching to raise Rs 5352 crore from this issue. Nykaa and Nykaa Fashion are the two brands that it owns.
About The IPO
The company stands at a valuation of$ 7.11 billion which is Rs 53,200 crore. The issue of the company is open on October 28 and will close on November 1. The company has fixed the price band for its IPO which is at Rs 1085-1125 per share. Nykaa is aiming to raise Rs 5352 crore from this issue. A fresh issue of Rs 630 crore and also shares worth Rs 4772 crore will be sold in Offer for Sale (OFS). The promoter currently holds 45.99% of the stake.
What's going on GMP?
Rs 1085-1125 is the issue price per share of Nykaa. The premium of its shares is going on at Rs 670 in the grey market. Which makes it 60% above its higher price band. Reportedly, on Tuesday, the unlisted shares of Nykaa were trading at Rs 1795 (1125+670) in the grey market.
The company's revenue reached Rs 2,441 crore
In the last financial year reportedly, the company's revenue had increased to Rs 2,441 crore and it ended up earning a profit of Rs 61.9 crore. The company’s mobile app had about 4.37 crore downloads by the end of March. The online gross merchandise value of the company comes up to over 86 per cent of purchases made through mobile apps.
Kotak Mahindra Capital Company, Morgan Stanley, BofA Securities, Citigroup Global Markets, JM Financial and ICICI Securities are the merchant bankers for the IPO.