Nykaa surges to near $13 billion valuation in debut
By
Biju Kumar
Bengaluru: Shares of cosmetics-to-fashion platform Nykaa NSE -2.94 % made a blockbuster opening on Wednesday, valuing the Indian company at near $13 billion, in the latest startup listing after food delivery firm Zomato’s stellar debut in July.
Shares of FSN E-Commerce Ventures, the profit-making company that owns the Nykaa brand, soared 89.2% to Rs 2,129 after opening at Rs 2,018 in pre-open trade.