Ritik Gupta
Mumbai: Online merchandiser of beauty products, Nykaa E-Retail Pvt Ltd, is reportedly planning to go public by the end of 2022 that could value the company at $3 billion.
The company established eight years ago by Falguni Nayar will be the first to roll out its Initial Public Offering (IPO) plans in the online beauty and fashion segment in India.
Our CEO and founder Falguni Nayar, takes home the 'ET Facebook Woman Ahead' award at the ET Start Up Awards 2017! #ETAwards #ETStartupAwards pic.twitter.com/1pxMLkt7KQ
— Nykaa (@MyNykaa) August 19, 2017
With the play, Nykaa will enter the league of Flipkart, Zomato, and Pepperfry, glimpsing at agendas to go public.
According to the agency reports, the online beauty retailer is peeping to schedule on the regional bourses, but an overseas share sale may well be in the endeavours.
In November, it put forward an unrevealed amount from Fidelity Investments Inc, putting on exit to premature investors and employees. The pact estimated it at almost $2 billion, in accordance with a news report.
Speaking to ET Now in December, Nayar said, “the company was getting ready for an IPO at some point in future”. She put in that Nykaa already had three industries, namely beauty, fashion and Nykaa Man and could also enlarge into other categories such as wellness.
The unicorn carried a knowledgeable determination not to lay off any employee or cut any salary. Neither did it close any of its 75 stores in India, buoyed by vigorous sales even in the lockdown period.
Founded in 2012 by the former investment banker Nayar, Nykaa has arisen as India’s largest online beauty retailer, playing against e-commerce mammoths like Amazon Fashion, Myntra and other cranny players. It delinquent joined into offline stores, identical to its adversaries like Craftsvilla, Faballey, and others.
