The Fashion e-retailer is set to launch its IPO on October 28 and the issue shall close on November 1. Through the issue, Nykaa -the profitable woman-led start up plans to aggregate Rs. 5200 crore and anchor placement shall open for Rs. 2340 crore on October 27.
As per the new plans, the fresh issuance size has been increased to Rs. 630 crore from Rs. 525 crore. Also, the offer for sale size has been reduced to 41.97 million shares from 43.11 million shares. The firm plans to list on 11 November.
The company will allocate Rs. 35 crore from the issue to the investment in its arms FSN Brands or Nykaa Fashions for financing the set up of new retail stores. Also, Rs. 200 crore shall be used for enhancing the company's brand visibility.
Nykaa,; led by Falguni Nayar is an online beauty aggregator player. The company after starting off with consmetics has now forayed into personal care, and fashion products, including brand products manufactured by it.