Nykaa to expand its services to the Middle East and Europe

October 6, 2022

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FSN E-Commerce Ventures Ltd, which owns online beauty and cosmetics retailer Nykaa, said on Monday that it is looking to expand its services to the Middle East and Europe as it prepares for its public share sale later this month.

The company has priced its initial public offering (IPO) at Rs 1,085 to 1,125 per share, with the possibility of raising up to Rs 5350 crore at the upper end of the price range, giving it a valuation of up to $7.11 billion. The three-day initial share sale will begin on Thursday, October 28 and will end on November 1. The offer consists of a new issue of equity shares worth up to Rs 630 crore and a sale of up to 41.9 million equity shares by the selling shareholders. It includes a reservation of up to 250,000 equity shares for eligible employees to purchase.

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