Nykaa forges ahead with planned IPO

Nykaa forges ahead with planned IPO

THE WHAT? Nykaa is said to be working with Kotak Mahindra Capital and Morgan Stanley on its planned IPO, according to a report published by Bloomberg quoting anonymous sources close to the matter.

THE DETAILS The Indian e-commerce platform could be valued at around US$4 billion on its flotation, Bloomberg revealed.

The TPG-backed start-up is said to be preparing to list by the end of the year, and could float as early as June.

THE WHY? Nykaa could raise as much as US$500 million via an IPO, funds that will be invested into the platform’s expansion to meet booming demand as the pandemic has accelerated digital conversion.

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