New Delhi | Jagran Business Desk: The largest specialty beauty and personal care (BPC) online platform, Nykaa, is all set to open its much-awaited initial public offering (IPO) today. The last date for Nykaa's IPO is set as November 1 and the shares are expected to be listed on both BSE and NSE. The shares in the Nykaa IPO will be a mixture of fresh stock worth Rs. 630 crore and an offer for sale of 4.19 crore shares. 

The beauty and wellness product online platform has fixed the issue price at Rs. Rs 1,085-1,125 for a share. According to market observes, the beauty and personal care (BPC) online platform's shares are available at a strong premium (GMP) of ₹625 in the grey market today. 

Founded in 2012, by Falguni Nayar, former investment banker, the BPC platform, Nykaa, as of August 31, 2021, had crossed the milestone of 55.8 million downloads across Google Play and Apple App Store. The company opened its first physical store in the year 2014, and shot to success with 80 more stores in 40 different cities in the last 7 years. The company had posted a total profit of Rs. 61.9 crore in FY2020-21 compared to a loss of Rs. 16.3 crore in FY2019-20. 

"Large segment for a vertical commerce play for beauty and lifestyle. The company is following the route of Amazon as a marketplace and thereon identifying segments to build/buy brands to create a portfolio of private label brands. This would help in significantly improving margins. The issue will be oversubscribed in our opinion, and we recommend subscribing to the issue," said Neha Khanna, Director, ValPro.

Posted By: Mallika Mehzabeen