The IPO will also include an offer for sale (OFS) in which existing shareholders will sell up to 431.1 lakh shares.
The Sanjay Nayar Family Trust, a promoter, will sell 48 lakh shares and other investors that will dilute their stakes include TPG, Light House India Fund, JM Financials, Yogesh Agencies, Sunil Kant Munjal, Harindarpal Singh Banga, Narotam Sekhsaria, Narotam Sekhsaria and Mala Gaonkar, according to the company’s draft IPO prospectus, which it had filed it August.
Founder Falguni Nayar and her family will continue to own a majority stake in the company even after the IPO, as reported by ET. Currently, Nayar, with her husband Sanjay Nayar and two children, hold more than 53% in the parent firm of Nykaa-FSN E-Commerce Ventures.
The Mumbai-based company has appointed investment banks such as Kotak Mahindra Capital, BofA Securities, ICICI Securities, Citibank, Morgan Stanley and JM Financial to manage its public issue.
Nykaa is among the only few profitable etailers in India. It reported a net profit of Rs 61.96 crore in FY21 compared to a net loss of Rs 16.34 crore in FY20. Its revenues also grew 38% to Rs 2,453 crore in FY21.
It said it would use Rs 130 crore to repay its debts and Rs 200 crore to market its brands.
