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Indian beauty startup Nykaa to raise $500 mln through IPO - source


Anuron MitraAditi Shah
3 minute read
BENGALURU, Aug 3 (Reuters) - Indian e-commerce beauty company Nykaa plans to raise $500 million through its initial public offering (IPO), a source with direct knowledge of the matter told Reuters, becoming the latest homegrown startup to pursue a listing on the domestic bourses.
Private equity firm TPG-backed Nykaa, based in Mumbai, sells cosmetics, grooming products and clothes.
Nykaa, formally known as FSN E-Commerce Ventures Ltd, said its IPO will consist of a fresh issue of shares of up to 5.25 billion rupees ($70.63 million) and an offer for sale of up to 43.1 million shares, according to a copy of its draft red herring prospectus dated Monday. ....

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