Nykaa plans to go public later this fiscal at a valuation of $4.5 billion, a sharp rise from its earlier valuation of more than $3 billion, as the beauty retailing startup gains from a marked shift towards online sales during the coronavirus pandemic, according to a report in LiveMint.
Founded by former investment banker Falguni Nayar, the size of the public offer remains unchanged at $500-$700 million, the report said, citing two people directly aware of the discussions.
"The roadshows are on for the IPO (initial public offer), and FSN Ecommerce Ventures Pvt. Ltd, the holding company of Nykaa, will file its draft red herring prospectus by this June-end or early July, and the IPO should take off in the March quarter of this fiscal," one of the persons mentioned was quoted as saying in the report.
In 2018, Nayar had told PTI that the startup would list in the next two years
Nykaa provides a curated range of beauty products for women and since then expanded to fashion and men's wellness and grooming. Apart from the omnichannel presence, its products are sold across over 70 stores.
