FSN E-Commerce Ventures, the company which owns the Nykaa brand, opened its initial public offering (IPO) today. Nykaa, the go-to e-commerce platform for cosmetics and fashion products, is one of the few profitable online startups in India. The Falguni Nayar-founded company is also the first woman-led Indian unicorn to launch an IPO. Yesterday, the anchor offering received bids 40 times the number of shares the company planned to sell to anchor investors, indicating strong interest in the company. Here's a deep dive into the beauty, personal care, and fashion retailer based on details shared in the company's red herring prospectus (RHP). Details of the IPO Dates: 28 Oct 2021 – 01 Nov 2021 Price range: Rs. 1,085 – 1,125 Minimum order quantity: 12 Expected to raise: As much as Rs 5,352 crore (~$700 million) at a valuation of $7.1 billion Fresh issue: Up to Rs 630 crore Offer for sale: Up to 41.9 million shares worth around Rs 4721 crore Allocated to anchor investors: 21,296,397 equity shares at ₹1,125 a share, aggregating to ₹2,396 crore Investors selling stake: TPG, Light House India Fund, Yogesh Agencies, JM Financial, Sunil Kant Munjal, Harindarpal Singh Banga, Narotam Sekhsaria, and Mala Gaonkar, among others. Promoters selling stake: The promoters, which include Sanjay and Falguni Nayar as well as their children Advaita and Anchit Nayar, currently hold a 54 percent stake. Sanjay and Falguni Nayar will sell 4.8 million shares held by a trust in their name. Falguni Nayar and her family will continue to own a majority stake even after the IPO as well as…
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