Business & Investment

Prior to IPO, Nykaa raises Rs 2,396 from anchor investors

FSNE-Commerce Ventures Ltd, which operates Nykaa, an online marketplace for beauty and wellness products, said Wednesday that it had raised Rupees 2,396 from anchor investors prior to its first share sale, which will launch a public subscription on Thursday. ..

According to a circulation uploaded to the BSE website, the company has decided to allocate a total of 21,296,397 shares to secure investors at Rs 1,125 per share.

BlackRock Global Fund, Fidelity Fund, Nomura, Singapore Government, Singapore Monetary Authority, Canadian Pension Plan Investment Commission, T Low Price, Tiger Global Investment Fund, Goldman Sachs and Morgan Stanley are investors participating in the Anchor Book. ..

In addition, shares are allocated to domestic funds such as Aditya Birla Sun Life Mutual Fund (MF), SBI MF, HDFC MF, Axis MF, UTI MF, Sundaram MF and Tata MF.

The IPO of FSN E-Commerce Ventures consists of an initial public offering worth Rs 63 billion and a sale of 41,972,660 shares (OFS) by promoters and existing shareholders.

The shares of OFS are sold by promoter Sanjay Nayar Family Trust and shareholders. TPGGrowthIVSFPte Ltd, Lighthouse India Fund III, Limited, Lighthouse India III Employee Trust, Yogash Agencies & Investments, JM Financial and Investment Consultancy Services, some individual shareholders.

The issue will be open to the public on October 28th and will end on November 1st, in the price range of Rs 1,085 to 1,125 per share.

At the upper end of the price range, the first share sale is expected to acquire Rs 5,352.

According to the draft paper, the company plans to use the revenue from the IPO to expand by establishing new retail stores and new warehouses.

We also plan to repay some of our debt, which should reduce interest cost and further improve profitability.

We will also invest IPO revenue in marketing and promotional activities to focus on strengthening 13 owned brands such as Nykaa Cosmetics, Nykaa Naturals and Kay Beauty, and establishing and promoting new brands.

“Nykaa has made a considerable journey. The key is the fact that most startups set up organizational processes and standardized protocols in the early stages that most startups didn’t even think about. For example, they got in stock. Nikhil Kamath, co-founder of True Beacon and Zerodha, said:

Founded by Falguni Nayar in 2012, FSNE-Commerce Ventures Ltd is a digital native consumer technology platform that provides consumers with a content-driven lifestyle retail experience.

The company has a diverse portfolio of beauty, personnel care and fashion products, including its own branded products, in two business areas, Nykaa and Nykaa Fashion.

The company reports a net profit of 61.94 rupees in 2009 compared to a net loss of 16.34 rupees in 2008. Operating revenue jumped from 1,768 rupees in FY2008 to 2,441 rupees in FY2009.

As of March 2021, the company is one of India’s leading influential lifestyle platforms with over 12.6 million followers across all major social media platforms. KotakMahindraCapitalCompany, Morgan Stanley India Company, BofA Securities India, Citigroup Global Markets India, JM Financial and ICICI Securities are merchant bankers on this issue.

The company’s stock will be listed on BSE and NSE.

Read again: Nykaa IPO Opens October 28: Price Range, Gray Market Premium, Lot Size, etc.

Read again: Nykaa aims to raise more than Rs 5,350 through an IPO

Prior to IPO, Nykaa raises Rs 2,396 from anchor investors Prior to IPO, Nykaa raises Rs 2,396 from anchor investors

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