Indian beauty startup Nykaa to raise US$500 million through IPO

Aug 4, 2021Updated May 31, 20251 min read

Indian e-commerce beauty company Nykaa plans to raise US$500 million through its initial public offering (IPO), a source with direct knowledge of the matter told Reuters, becoming the latest homegrown startup to pursue a listing on the domestic bourses.

Private equity firm TPG-backed Nykaa, based in Mumbai, sells cosmetics, grooming products, and clothes. Nykaa said its IPO will consist of a fresh issue of shares of up to 5.25 billion rupees (S$95.49 million) and an offer for sale of up to 43.1 million shares, according to a copy of its draft red herring prospectus dated Monday.

The source said the 5.25 billion rupees will come from fresh shares issued to investors, while the rest will come from existing shareholders.

Nykaa’s filing comes after food-delivery firm Zomato’s stellar debut last month. Launched in 2012, Nykaa grew popular by selling cosmetics and grooming products on its website and apps, before expanding into fashion, pet care, and household supplies.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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