Beauty ecommerce major Nykaa is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures from an undisclosed foreign portfolio investor
In an exchange filing, the company said that the board of directors of Nykaa E- Retail Limited, a wholly owned subsidiary of FSN ECommerce Ventures Limited, has approved and authorised the issuance of up to 12,500 NCDs at a face value of INR 1 Lakh each to raise INR 125 Cr
Shares of FSN E-Commerce Ventures were trading at INR 177.30 apiece at 9:41 AM on the BSE on Tuesday, up 1.3% from the previous close
Beauty ecommerce major Nykaa
is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures (NCDs) from an undisclosed foreign portfolio investor.
In an exchange filing on Monday (July 22), the company said that the board of directors of Nykaa E- Retail Limited, a wholly owned subsidiary of FSN ECommerce Ventures Limited, has approved and authorised the issuance of up to 12,500 NCDs at a face value of INR 1 Lakh each to raise INR 125 Cr.
This comes weeks after its step-down subsidiary Nessa International Holdings incorporated a wholly-owned subsidiary in Qatar – Nysaa Cosmetics Trading.
Back then the company said that Nysaa Cosmetics will be engaged in international exports and sale/ trade/ retail of beauty and personal care (BPC) products, both online and offline, and other related activities.
Founded in 2012 by Falguni Nayar, Nykaa is a wholly owned subsidiary of FSN ECommerce Ventures. The ecommerce chain offers different beauty and wellness products for men and women.
Shares of FSN E-Commerce Ventures were trading at INR 177.30 apiece at 9:41 AM on the BSE on Tuesday, up 1.3% from the previous close.
Earlier in May, Nykaa announced a major restructuring of its business verticals, where its board approved the acquisition of western wear and accessories business of Nykaa Fashion Limited in a cash deal of INR 133.7 Cr.
In July, FSN ecommerce projected a strong revenue growth of around 22-23% year-over-year for the first quarter of FY2025. Also, the company said in a statement that it also anticipates its Gross Merchandise Value (GMV) to rise in the mid-twenties percentage range year-over-year.
