New Delhi: E-commerce magnificence web site, Nykaa is about to open its Preliminary Public Providing (IPO) for subscribers on October 28, Thursday. The corporate, led by Falguni Nayar, is eyeing a valuation of $7 billion.
In accordance with experiences, Nykaa’s IPO subscription can be open on October 28 and can shut on November 1, 2021. The corporate will provide a worth band with the decrease restrict set at Rs 1,085 and the upper restrict can be Rs 1,125 per share.
As reported by CNBC TV18, the Nykaa IPO will comprise Rs 630 crore of fairness shares by way of the recent concern and Rs 4,721 crore by promoters and present shareholders by way of Provide for Sale (OFS). The higher finish of the worth band may have a difficulty measurement of Rs 5,351.92 crore.
Promoter Sanjay Nayar Household Belief can be promoting out 48 lakh fairness shares. Whereas, traders of the corporate like TPG Progress IV SF Pte Ltd and Lighthouse India Fund III can be promoting off round 54 lakh and 48 lakh shares, reported CNBC TV18.
In the course of the Nykaa IPO, the traders can place their guess for lots of 12 shares or within the multiples thereof. Whereas a retail investor can be allowed to position a bid of most 14 shares. Lots positioned on the larger finish of the worth band is about at Rs 13,500.
FSN E-Commerce Enterprise, which owns Nykaa and Nykaa Vogue, was included in 2012. The corporate is headquartered in Mumbai. The wonder e-commerce platform gives magnificence, vogue and private care merchandise.