TPG-Backed Beauty Startup Plans IPO at $3 Billion Value
- India’s online retailer is working with advisers on share sale
- Nykaa, founded in 2012, also counts Fidelity among its backers
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Nykaa E-Retail Pvt is planning an initial public offering as soon as this year that could value the Indian online cosmetic retailer at a minimum $3 billion, according to people familiar with the matter.
The startup founded by Falguni Nayar, a former investment banker, is working with advisers to prepare for the share sale in Mumbai, the people said. Nykaa is leaning toward a domestic listing, though an overseas share sale is also under consideration, said the people, who asked not to be named as the information is private.