Incorporated in 2012, Nykaa is a consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. The company has a diverse portfolio of beauty, personal care, and fashion products, including their own brand products manufactured by them. The company operates under 2 major verticals:
- Nykaa: Beauty and personal care
- Nykaa Fashion: Apparel and accessories
Under the Beauty and Personal Care Offering, the company has 197,195 SKUs from 2,476 brands primarily across make-up, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories as of March 31, 2021. For beauty and personal care offerings, Nykaa's business is mainly inventory-led. The company manufactures its owned brand beauty and personal care products through third-party manufacturers and are sold under their brand name such as "Nykaa Cosmetics", "Nykaa Naturals" and "Kay Beauty".
Apparel and accessories verticals consist of 1,350 brands and over 1.8 million SKUs with fashion products across four consumer divisions: women, men, kids, and home. Nykaa Fashion also has six owned brands.
The company provides an omnichannel shopping experience to its customers by providing both online and offline shopping channels. Online channels include mobile apps, websites, and mobile sites while offline channel consists of 73 physical stores spread across 38 cities in India.
Competitive Strengths:
- One of India's leading specialty beauty and personal care companies.
- Major brands offering their products on Nykaa's platform for sale
- Capital efficient business with strong growth and profitability
- Company's advanced technology platform
- Founder-led company with an experienced management team
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Investment in certain of our Subsidiaries, namely, FSNBrands and / or Nykaa Fashion for funding the set-up of new retail stores | ₹42 |
| 2 Capital expenditure to be incurred by our Company and investment in certain of our Subsidiaries, namely, Nykaa E-Retail, FSN Brands and Nykaa Fashionfor funding the set-up of new warehouses | ₹42 |
| 3 Repayment or prepayment of outstanding borrowingsavailed by our Company and one of our Subsidiaries, namely, Nykaa E-Retail | ₹156 |
| 4 Expenditure to acquire and retain customers by enhancing the visibility and awareness of our brands | ₹234 |
| 5 General corporate purposes | ₹127 |
| Metric | 30-Jun-21 | 30-Jun-20 | 31-Mar-21 |
|---|---|---|---|
| Total Assets | 1,631 | 1,007 | 1,302 |
| Revenue | 822 | 291 | 2,453 |
| PAT | 4 | 55 | 62 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 35,493,996 (75%) | — |
| NII / HNI | — | 7,098,798 (15%) | — |
| Retail (RII) | — | 4,732,532 (10%) | — |
| Employee | — | 250,000 (1%) | — |
| Total | — | 47,575,326 (100%) | — |
* Amount calculated at upper price band (₹1,125) · ** Total includes all investor categories
- 1 Initiation of Refund 09 Nov 2021
- 2 Credit of Shares to Demat 09 Nov 2021
- 3 Lock-in Period (30%) December 8, 2021
- 4 Lock-in Period (50%) February 6, 2022
- Retail allocation is weak at 10% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 75%.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
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