Org Chart: The People With Power At IPO-Bound Nykaa

Org Chart: The People With Power At IPO-Bound Nykaa

SUMMARY

Nykaa turned profitable in the financial year 2019, when it recorded a revenue of INR 1,160.98 Cr

It is looking to come out with an IPO later this fiscal at a valuation of $4.5 Bn — almost 50% above its earlier target of $3 Bn

Its top brass is a good mix of young blood and experience, the different vertical and function heads are populated not only by previous founders, but also people who have proved their mettle in companies like Vodafone, Unilever and GE

Online beauty retailer Nykaa is looking to come out with an IPO later this fiscal at a valuation of $4.5 Bn — almost 50% above its earlier target of $3 Bn. This is on the back of a significant bump in its online sales due to the lockdowns and restrictions brought upon by the Covid-19 pandemic. Founded by former investment banker Falguni Nayar, Nykaa will reportedly keep unchanged the size of the IPO at between $500 Mn-$700 Mn.

Interestingly, the ecommerce company was valued at $1.2 Bn in March 2020 (just when the pandemic lockdowns started) when it raised a $25 Mn funding round led by Steadview Capital. The company further raised an undisclosed amount from Fidelity Investments reportedly at a valuation of $1.8 Bn in November last year. Besides this, the company also raised funding from Bollywood stars Alia Bhatt and Katrina Kaif last year.

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