Nykaa reveals IPO Launch Date, Plans To Raise Rs 5,200 Crore: Reports

New Delhi: FSN E-Commerce Ventures Ltd's, which owns Nykaa will launch its three-day Initial Public Offering (IPO) on October 28.

According to media reports, the IPO will open on October 28 and close on November 1. Through this IPO, the company is expected to raise Rs 5,200 crore. This online store wants to keep its valuation at $7.4 billion for this IPO.

There will be a fresh issue of Rs 630 crore in this IPO of the company as compare to 525 crore previously. The company has also reduced the offer for sale (OFS) from 43 million shares to 41 million shares which promoters and shareholders will sell.

According to the people who deal in the unlisted shares of the companies, in the Grey Market on Friday, the shares of Nykaa were quoting at a premium of Rs 670, as against the tentative price of Rs 1,125-1,150 per share. However, Nykaa IPO price band of the share sale has been fixed at Rs 1,085-1,125 apiece.

Notably, on October 14, the Security Exchange of India (SEBI) gave approval to the company to launch its IPO between October 11 and 14.

Apart from Nykaa, the companies like star health insurance company, Penna Cement Industries, Adani Group's FMCG Company Adani Wilmar, Latent View Analytics and Sigachi Industries have also got approval of IPO from SEBI.

These companies had submitted the required documents for IPO with SEBI between May and August. Last week, the board gave approval to these six companies to for the same.

Nykaa was founded in 2012 by Falguni Nair, a former investment banker. The company sells beauty products. Apart from online sales, the company also sells through retail outlets. Its investors include big investors like TPG and Fidelity.

Also read:Star Health Insurance Gets SEBI Nod For IPO

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