IPO-bound Nykaa in talks for new funding round at $2 billion valuation
Nykaa wants to realign its cap table before the IPO, hence some of the early backers may exit making way for newer investors. (Illustration: Rahul Awasthi/ETtech)
Synopsis
Nykaa’s secondary financing round is seen as a valuation exploration exercise before the Falguni Nayar-led startup sets out for an IPO at $3.5 billion valuation.
Mumbai: Nykaa is in talks to raise $50-$150 million in a secondary financing round, which is expected to value the omnichannel beauty retailer at $2 billion, multiple people in the know of developments told The Economic Times.