On Monday, TPG-backed Indian fashion e-commerce company Nykaa’s initial public offering was oversubscribed by roughly 82 times, signalling strong investor interest for the country’s newest startup to pursue a domestic stock listing. According to a person with firsthand knowledge of the situation, Nykaa, an Indian cosmetics to fashion business, has received bids for a good amount of times.
According to a source who spoke to Reuters last week, the company received bids for 40 times the number of shares it intends to sell to anchor investors in its IPO. Blackrock Capital Group and Fidelity Investments were among the backers. Nykaa’s IPO is the most advanced in a year that has witnessed around 40 organizations account on local stock exchanges. The most since at least 2016, as companies try to profit from a market that has reached new highs. Thanks to a drop in COVID-19 cases, the reopening of the economy, and adequate liquidity.
Nykaa is “ideally positioned… (with) a share of the market of almost 35 per cent in the online beauty and personal care industry,” according to Sneha Poddar, associate vice president of research, broking & distribution at Motilal Oswal Financial Services Ltd, who added that the company is well-positioned to attack great growth potential. The beauty and fashion brand Nykaa is doing exceedingly well in terms of commerce and the current market.
Nykaa will open its first public offering to subscribers on 28th: All you need to know
This is huge news for any women-oriented- startup. According to research firm RedSeer, India’s beauty and personal care market would reach $28 billion by 2025. Nykaa, which began selling cosmetics and grooming products on its website, apps, and physical stores in 2012, developed in popularity before branching out into fashion, pet care, and home goods.
Indian actresses Alia Bhatt and Katrina Kaif are among the company’s investors. This women-led company, have hugely attracted customers and investors over the past years. The e-commerce brand has been bagging orders for a long-time. With their fresh public opinion, it gained some important investor eyes. From fashion to makeup, everything seems to be upgraded since the raising of the brand
