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2021-07-29

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India Startup Nykaa Is Said to Seek $4 Billion Valuation in IPO

Country’s technology market has been surging in recent months Zomato soared 75% since becoming first

India Startup Nykaa Is Said to Seek $4 Billion Valuation in IPO

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AxlChoo
·2021-07-29
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D8999
·2021-07-29
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It plans to sell just more than 10% of the equity, one of the people said, which could raise $400 million or more.</p>\n<p>India’s technology industry has turned white hot this year, with startups raising record amounts of venture capital and a flurry of initial public offerings. The food-delivery app&nbsp;Zomato Ltd.&nbsp;became the nation’s first unicorn to make its stock-market debut this month, raising $1.3 billion. Its shares have soared more than 75%, giving the money-losing business a valuation of $14 billion.</p>\n<p>The online insurance platform Policybazaar, backed by Japan’s SoftBank Group Corp., is&nbsp;also expected to fileits draft red herring prospectus in the coming days, with a more than a dozen technology startups aiming for IPOs through next year.</p>\n<p>Nykaa, founded in 2012 by former investment banker Nayar, has grown into India’s top destination for beauty products with its own chain of physical outlets and 18.5 billion rupees ($250 million) in revenue in fiscal 2020. Its investors include TPG and Fidelity.</p>\n<p>The company was last valued at $1.2 billion, according to CB Insights, but it’s difficult to estimate its current worth given the rapidly chang</p>\n<p>ing market. The startup and its investors have discussed a valuation of $4 billion or more, and anticipate its fast-growing revenue will be appealing to investors, the people said. Nykaa had targeted&nbsp;a valuation of $3 billion&nbsp;or more, Bloomberg News reported in January.</p>\n<p>Like with any IPO however, the final price will be set through a process of discussions with investment bankers and potential investors. Any valuation could still change andmarket conditionscould also play into the calculations.</p>\n<p>Nykaa declined to comment on the timing of the IPO filling or the specifics of a valuation.</p>\n<p>Bloomberg News&nbsp;first reported&nbsp;the company’sIPO plans&nbsp;and that the company is working with Kotak Mahindra Capital Co. and Morgan Stanley on a potential offering.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>India Startup Nykaa Is Said to Seek $4 Billion Valuation in IPO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIndia Startup Nykaa Is Said to Seek $4 Billion Valuation in IPO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-29/india-startup-nykaa-is-said-to-seek-4-billion-valuation-in-ipo?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Country’s technology market has been surging in recent months\nZomato soared 75% since becoming first unicorn to go public\n\nIndia’s Nykaa is preparing to file for an initial public offering that could ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-29/india-startup-nykaa-is-said-to-seek-4-billion-valuation-in-ipo?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.bloomberg.com/news/articles/2021-07-29/india-startup-nykaa-is-said-to-seek-4-billion-valuation-in-ipo?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187621396","content_text":"Country’s technology market has been surging in recent months\nZomato soared 75% since becoming first unicorn to go public\n\nIndia’s Nykaa is preparing to file for an initial public offering that could value the startup at more than $4 billion, according to people familiar with the matter, another sign of the growing interest in India’s technology sector.\nThe country’s top e-commerce company for beauty, founded by Falguni Nayar, isaiming tofile its draft red herring prospectus, or DRHP, within the next few days, said the people, asking not to be named because the matter is private. It plans to sell just more than 10% of the equity, one of the people said, which could raise $400 million or more.\nIndia’s technology industry has turned white hot this year, with startups raising record amounts of venture capital and a flurry of initial public offerings. The food-delivery app Zomato Ltd. became the nation’s first unicorn to make its stock-market debut this month, raising $1.3 billion. Its shares have soared more than 75%, giving the money-losing business a valuation of $14 billion.\nThe online insurance platform Policybazaar, backed by Japan’s SoftBank Group Corp., is also expected to fileits draft red herring prospectus in the coming days, with a more than a dozen technology startups aiming for IPOs through next year.\nNykaa, founded in 2012 by former investment banker Nayar, has grown into India’s top destination for beauty products with its own chain of physical outlets and 18.5 billion rupees ($250 million) in revenue in fiscal 2020. Its investors include TPG and Fidelity.\nThe company was last valued at $1.2 billion, according to CB Insights, but it’s difficult to estimate its current worth given the rapidly chang\ning market. The startup and its investors have discussed a valuation of $4 billion or more, and anticipate its fast-growing revenue will be appealing to investors, the people said. Nykaa had targeted a valuation of $3 billion or more, Bloomberg News reported in January.\nLike with any IPO however, the final price will be set through a process of discussions with investment bankers and potential investors. Any valuation could still change andmarket conditionscould also play into the calculations.\nNykaa declined to comment on the timing of the IPO filling or the specifics of a valuation.\nBloomberg News first reported the company’sIPO plans and that the company is working with Kotak Mahindra Capital Co. and Morgan Stanley on a potential offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":730,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":5366688,"commentId":"5366688","gmtCreate":1627542251033,"gmtModify":1663231661928,"authorId":3576321881416814,"author":{"id":3576321881416814,"idStr":"3576321881416814","authorId":3576321881416814,"name":"AxlChoo","avatar":"https://static.tigerbbs.com/07cda5bcab8b688f3844cf237bffa55f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808038171,"objectIdStr":"808038171","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"help like!","text":"help like!","html":"help like!","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0},{"id":5366800,"commentId":"5366800","gmtCreate":1627543553031,"gmtModify":1631889719143,"authorId":4088737235319000,"author":{"id":4088737235319000,"idStr":"4088737235319000","authorId":4088737235319000,"name":"D8999","avatar":"https://community-static.tradeup.com/news/98de4d444ea3e996008604c4afda179b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":808038171,"objectIdStr":"808038171","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Like please ","text":"Like please ","html":"Like please ","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"invalid","coins":0,"score":0}],"hasMoreComment":true,"orderType":2}