InvestorQ : Is it true that Nykaa has filed for an IPO and when is it expected to tap the market?
Aditi Sharma made post

Is it true that Nykaa has filed for an IPO and when is it expected to tap the market?

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Mahima Roy answered.
3 months ago
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Yes that is correct. Nykaa has filed its draft red herring prospectus or DRHP with SEBI for its proposed Rs.4,000 crore IPO. Nykaa is a digital cosmetic retailer floated in 2012 by former Kotak investment banker Falguni Nayyar. Nykaa already has secured several rounds of funding from big PE names like TPG and Fidelity. In its last round of funding, which was more than 18 months ago, Nykaa was valued at $1.50 billion.

While IPO valuations are not yet known, the street expectation is of valuation closer to $4 billion for Nykaa. Currently, Nykaa houses over 1,500 brands which includes some marquee luxury labels from across the world. Nykaa had posted revenues of Rs.1,850 crore in FY20 but in terms of bottom line it continues to make losses, as is the case with most of the digital plays where outlays tend to be front-ended.

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