Nykaa IPO: Nykaa to file up to date DRHP immediately with SEBI nod for IPO, main major problem

Mumbai: Omni-channel magnificence and consumer-care merchandise retailer Nykaa on Thursday acquired approval from the Securities and Change Board of India (Sebi) for an preliminary public providing, sources within the know of the event mentioned. In keeping with banking sources, the corporate is more likely to file an up to date draft pink herring prospectus with markets regulator SEBI on Thursday to extend the first problem measurement from Rs 525 crore to Rs 630 crore.

The IPO may also embrace a proposal on the market (OFS) during which present shareholders will promote as much as 431.1 lakh shares.

Sanjay Nair Household Belief, a promoter, will promote 48 lakh shares and different buyers who will dilute their bets embrace TPG, Mild Home India Fund, JM Monetary, Yogesh Businesses, Sunil Kant Munjal, Harinderpal Singh Banga, Narottam Sekhsaria, Narottam Sekhsaria and Are included. Mala Gaonkar, in keeping with the corporate’s draft IPO prospectus, which it filed in August.

Founder Falguni Nair and his household will proceed to carry majority stake within the firm even after the IPO, as reported by ET. Presently, Nair, alongside along with her husband Sanjay Nair and two youngsters, maintain over 53% stake within the mum or dad agency of Nykaa-FSN E-commerce Ventures.

The Mumbai-based firm has appointed funding banks equivalent to Kotak Mahindra Capital, BofA Securities, ICICI Securities, Citibank, Morgan Stanley and JM Monetary to handle its public providing.

Nykaa is one among only some worthwhile e-tailers in India. It reported a web revenue of Rs 61.96 crore in FY 2011 as in comparison with a web lack of Rs 16.34 crore in FY11. Its income additionally grew by 38% to Rs 2,453 crore in FY11.

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It mentioned it could use Rs 130 crore to repay debt and Rs 200 crore to market its manufacturers.

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