Nykaa Operator Raises Rs 2,396 Crore From Anchor Investors Ahead Of IPO

FSN E-Commerce Ventures, which owns Nykaa and Nykaa Fashion, secured Rs 2,396 crore from 174 anchor investors ahead of its October 27 initial public offering. Following discussions with merchant bankers, the company has agreed to allocate 21,296,397 equity shares to anchor investors for Rs 1,125 per share. Among the anchor book's notable investors were Blackrock Global Funds, BEST Investment Corporation, Emerging Markets Growth Fund, Fidelity Funds, the Government of Singapore, the Canada Pension Plan Investment Board, T Rowe Price, JP Morgan, Aberdeen Abu Dhabi Investment Authority, CLSA, Goldman Sachs, and the Monetary Authority of Singapore.

FSN E-Commerce Ventures, a multi-brand beauty, personal care, and fashion platform, intends to generate Rs 5,351.92 crore through its first public offering. TPG, a private equity firm, and Falguni Nayar, a banker-turned-businesswoman, plan to use the net proceeds of the new issuance to invest in two subsidiaries and open new retail locations. The price range for the offer is Rs 1,085-1,125 per share. The submission deadline is November 1st.