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Nykaa Updates Its Latest Equity Offer to Raise 630 Crore in IPO

A marketplace that is primarily focused on beauty, Nykaa has updated its red prospectus for herrings (DRHP) to boost the value of its new offering by Rs 100 crore. Based on regulatory reports, Nykaa is now seeking to raise around 630 crore in IPO.

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Nykaa Updates Its Latest Equity Offer to Raise 630 Crore in IPO

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  1. NykaaUpdatesItsLatest EquityOffertoRaise630CroreinIPO NykaaIPONews Amarketplacethatisprimarilyfocusedonbeauty,Nykaahasupdateditsredprospectusforherrings(DRHP)toboostthevalueofitsnewofferingbyRs100crore.Basedonregulatoryreports,Nykaaisnowseekingtoraisearound630croreinIPO. InAugust,thecompanystatedwithintheDRHP,thatitplannedtoraise525crorethroughtheforthcomingInitialpublicoffer(IPO).Accordingtomediareports,Nykaacouldraise$500million(Rs4000crore)however,thecompanydidnotrevealtheexactamountofitsIPOithadannouncedintheDRHPatapriceofbetween$4.5-5billion(Rs35,000-40,000crore). AccordingtosourcesintheindustrythecompanyhasbeengrantedacceptancefromSEBIforthepubliclistingofitsstockandwilllikelybelistedattheexchangebeforetheendofthemonth.

  2. Youmayalsoliketoread: • After FIR,Dream11 suspendedits operationsinKarnataka • Ola,Uber,Swiggy&ZomatoWorkersFiledPetitioninSupremeCourtforTheirSocialSecurityBenefits • PlanningoflowerstakesinNykaaIPO • Nykaawillusethefreshfundstoopenwarehousesandstoresaswellastofundoperationsonlineandalsorepayitsborrowers.PromoterSanjayNayarFamilyTrustandNykaa'sinvestors:Lighthouse,TPGGrowth,SunilMunjalamongotherswilllowertheirstakesintheplannedNykaaIPO. • Ifthecompanyislistedat$4.5-5billion,itwouldbea2.5Xincrementfromthe$1.8billionvalueinNovemberof2020whenMassachusetts-basedFidelityInvestmentshadpickedupadditionalsharesoftheMumbai-basedcompany. • Contrarytomostcompaniesthatarepreparingforpubliclisting,Nykaaisaprofitableventure.BasedonitsDRHPreport,thecompanyreportedthesumofRs61.94croreinprofitandoperatingrevenuesof • 2440.89croreforthefiscalwhichendedMarch2021. • Alsoread:Licious becomesIndia’sfirst unicorn company in the D2C segment • ThefactthatpromotersareapartofNykaadiffersfromotherIPO-boundbusinesses.FalgunialongwithSanjayNayar,alongwiththeirtrustsoffamilymembershold53percentofthecompanywithavarietyofrightsthatarefavorable. • Nykaaisalsoolderthantheotherinternet-basedconsumerbusinessesthatarepreparingtogopublic.Itwasfoundedin2012byNayyarbackintheyear2012Nykaaisabletofulfillmorethan60,000dailyordersitclaimsthattheyhavemorethan15millionusersregistered.Thereare73physicalstoresspreadacross38citiesacrossIndiawiththreestoresatthecloseofFY21. • Ifyouwanttostayupdatedwiththelatestongoingsinthestart-upindustry,thenvisitourofficialwebsite“Entrackr”.

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