Nykaa is getting ready for an IPO πŸš€

Nykaa is getting ready for an IPO πŸš€

Online beauty retailer Nykaa is ready to file its docs with SEBI in the next few days β€” getting one of the most anticipated listings of the year 1 step close to reality.

Nykaa will raise ~$400 million at a $4 billion valuation, says Moneycontrol, with early backers TPG and Fidelity likely to hit the door. Founder Falguni Nayar and family will continue to hold a 51% stake β€” what a boss!

Game play β€” for those just catching up here, Nykaa is the front runner in India’s exploding direct-to-consumer cosmetics industry, selling a variety of beauty products via a battle tested omnichannel model (online + ~70 physical stores). Revenues topped $250 million last year, and profitability should be in sight.

Dig in when the docs drop in a few days!

Big picture β€” solid $250M revenue base, a well known brand, strong tailwinds delivered by explosive demand in ecommerce, and a fertile backdrop set by the $ZOMATO bid. Are we the only ones thinking $4B is a goddamn steal here? πŸ€·β€β™€οΈ

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