Nykaa IPO To Open On October 28, Price Band Fixed At Rs 1,085-Rs 1,125 Per Share
NDTV
The company aims to raise nearly $500 million through a three-day IPO subscription starting from October 28 to November 1
Startup FSN E-Commerce Ventures, which runs beauty company Nykaa, has priced its initial public offering (IPO) at Rs 1,085 rupees to 1,125 per share, giving it a valuation of as much as $7.11 billion.
The company aims to raise nearly $500 million through a three-day IPO subscription starting from Oct. 28 to Nov 1. The IPO involves issuing new shares worth up to Rs 5.25 billion ($70.13 million) and offering up to 43.1 million of its existing shares.
The company's investors include private equity firm TPG, Fidelity and Indian film actress Alia Bhatt. Nykaa will use the IPO proceeds to set up new retail stores, fund capital spending and repay debts, according to the prospectus.
