Nykaa has increased its fresh issue to ₹630 crore from ₹525 crore. Offer for sale has reduced to 41.98 Million shares from 43.11 Million shares.
Nykaa was founded by investment banker Falguni Nayar in 2012 and is a leading player in the online beauty aggregator segment.
According to sources, the startup is planning to raise ₹5,200 crore and anchor placement will open on 27 October for ₹2,340 crore.
The initial public offering (IPO) of FSN E-Commerce Ventures Ltd, which owns Nykaa, will open on 28 October for subscription and close on 1 November. Nykaa plans to list on 11 November.
Investors in OFS who will sell their shares include Sanjay Nayar Family Trust, TPG Growth IV SF Pte, Lighthouse India Fund III, Yogesh Agencies and Investments, JM Financial and Investment Consultancy Services, Sunil Kant Munjal, Harindarpal Singh Banga jointly with Indra Banga, Narotam Sekhsaria, Rishabh Mariwala, Mala Gaonkar, Jeenoo Khakhar jointly with Kanika Khakhar and Isha Khakhar, Michael Carlos, Samina Hamied, Sanjay Maliah, Vikram Sud and Karan Swani.
Currently, the founder of Nykaa Falguni Nayar Family Trust and Sanjay Nayar Family Trust holds 22.33% and 25.72% stake respectively in the firm.
Kotak Mahindra Capital, Morgan Stanley India, Bofa Securities, Citigroup Global Markets India, ICICI Securities, and JM Financial are the book running lead managers to the issue.
Nykaa will allocate ₹35 crore from the issue to investment in its arms FSN Brands or Nykaa Fashions for funding the establishment of new retail stores. Another ₹35 crore and ₹130 crore will be used for capital expenditure and repayment of debt. Nykaa will also use ₹200 crore to enhance the visibility and awareness of its brands.
Nykaa was founded in 2012 by investment banker Falguni Nayar and is a leading player in the online beauty aggregator segment. The firm is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It has a diverse portfolio of beauty, personal care, and fashion products, including brand products manufactured by it.
As of March 2021, the company had cumulative downloads of 43.7 million across all mobile applications and 86.7% of its online gross merchandise value came through its mobile applications.