- News>
- Markets
Nykaa IPO to open on October 28: 10 things to know before subscribing to initial offer
Nykaa`s initial public offering (IPO) will open for subscriptions on October 28.
Highlights
- The price band of the initial share sale in the IPO has been fixed at Rs 1085- Rs 1125 apiece.
- Nykaa received SEBI approval to float its IPO to raise fresh funds on October 11.
- The company is selling fresh equity shares worth Rs 630 crore.
New Delhi: Nykaa’s parent firm, FSN E-Commerce Ventures, has finally released the dates for its upcoming initial public offering (IPO). According to the latest update, Nykaa IPO will open for public subscription starting next week on Thursday, October 28.
Nykaa was founded in 2011 by Falguni Nayar. Since its inception, the startup has become one of the fastest-growing omnichannel marketplaces in the country. The company majorly sells women cosmetics on the platform. The company is now finally going public via its IPO.
If you’re planning to subscribe to Nykaa’s IPO, then you should know these 10 things before bidding for the offer:
1. Nykaa IPO will be open for public subscription from October 28 (Thursday) to November 1 (Monday).
2. The price band of the initial share sale in the IPO has been fixed at Rs 1085- Rs 1125 apiece.
3. Nykaa received Securities and Exchange Board of India's (SEBI) approval to float its IPO to raise fresh funds on October 11.
4. The company is selling fresh equity shares worth Rs 630 crore in the IPO along with an offer for sale (OFS) of 4.19 crore shares by promoters and existing shareholders.
5. Nykaa’s promoters include Falguni Nayar, Sanjay Nayar, Falguni Nayar Family Trust and Sanjay Nayar Family Trust.
6. Falguni Nayar is a former investment banker, and currently, is among the few women entrepreneurs who are leading a startup to IPO from the front.
7. With the funds raised from the IPO, the company intends to expand its physical presence by setting up new retail stores and warehouses.
8. The company also plans to use some of the funds to pay its debt that will help the company further improve its profitability.
9. In FY21, the company had posted a net profit of Rs 61.9 crore while the revenue jumped to Rs 2,441 crore. In FY20, the company had faced a loss of Rs 16 crore while the revenues stood at Rs 1768 crore. Also Read: WhatsApp Update: WhatsApp to let users listen to their voice messages before sending it
10. Nykaa stocks will list on November 11 on BSE and NSE. Also Read: Have a Re 1 coin? Now you can buy gold with it; here’s how
#mute