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New Delhi: Nykaa IPO is opening today for subscription. The operator of beauty and personal care brand has raised around Rs 2,396 crore from anchor investors ahead of the initial public offering. The shares of the company will be listed on BSE and NSE.
Nykaa IPO subscription period has commenced today and it will close on November 1.
The share allotment date is likely to be on November 8, according to a report by chittorgarh website.
Those selling shares in the OFS include TPG Growth IV SF Pte Ltd, Lighthouse India Fund III, Limited, Lighthouse India III Employee Trust, Yogesh Agencies and Investments and J M Financial and Investment Consultancy Services and Sanjay Nayar Family Trust, as per a PTI report.
Proceeds of the fresh issue will be used towards investment in certain subsidiaries — FSN Brands or Nykaa Fashion — to set-up new retail store, capital expenditure, repayment of debt, to enhance the visibility and awareness of its brands and general corporate purposes, PTI reported.
Founded in 2012, the company is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers, as per PTI report.
The dearth of PAT positive new age companies in India and it’s first mover advantage augurs well enabling Nykaa to command higher premium. We believe the company is capable of improving its financial metrics and cementing its position going forward and hence recommend investors to Subscribe to the issue, Yesha Shah, Head of Equity Research, Samco Securities said.
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