Nykaa IPO to open on October 28; priced at Rs 1,085-1,125 apiece

FSN E-Commerce Ventures, operator of Nykaa beauty stores, has fixed the price band of Rs 1,085-Rs 1,125 for its maiden public share sale. The initial public offering (IPO) will remain open on October 28 and close on November 1.

At the top-end, the beauty startup will be valued at Rs 53,200 crore ($7 billion).

Nykaa’s IPO will consist of fresh equity issuance of Rs 630 crore and secondary share sale of Rs 4,722 crore. More than a dozen entities are divesting their holdings in the IPO. Some of them include promoters Falguni Nayar and Sanjay Nayar (through Sanjay Nayar Family Trust), private equity firms TPG and Lighthouse.