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Kul Bhushan · · 1 min readIndian beauty startup Nykaa eyes $4b valuation in upcoming IPO
“India’s Nykaa is preparing to file for an initial public offering that could value the startup at more than US$4 billion, another sign of the growing interest in India’s technology sector,” Bloomberg reported citing people familiar with the matter.
Details
- Nykaa will reportedly file a draft red herring prospectus in the coming days.
- The beauty startup could also sell over 10% equity to raise about US$400 million.
Dive deeper
- Nykaa earlier this week changed its status from a private company to a public company – a key step before it goes for its IPO.
- The startup’s pursuit for an IPO follows Zomato’s listing – the India-based restaurant aggregator became the first startup unicorn in India to list on the stock exchange. Paytm, Mobikwik, and Ixigo are among the top tech companies planning to go public soon.
Editing by Miguel Cordon and Jaclyn Tiu
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