Nykaa gets Sebi’s nod for IPO, to file updated DRHP today with bigger primary issue

Mumbai: Omni-channel beauty and consumer-care products retailer Nykaa received clearance from the Securities and Exchange Board of India (Sebi) on Thursday for an initial public offering, sources with knowledge of the development said. The company is likely to file an updated draft red herring prospectus with the market regulator Sebi on Thursday to increase the primary issue size from Rs 525 crore to Rs 630 crore, according to banking sources.

The IPO will also include an offer for sale (OFS) in which existing shareholders will sell up to 431.1 lakh shares.