Beauty ecommerce major Nykaa is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures from an undisclosed foreign portfolio investor
The company said that its board has approved the issuance of up to 12,500 NCDs at a face value of INR 1 Lakh each to raise INR 125 Cr
Shares of FSN E-Commerce Ventures were trading at INR 177.30 apiece at 9:41 AM on the BSE on Tuesday, up 1.3% from the previous close
Beauty ecommerce major Nykaa
is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures (NCDs) from an undisclosed foreign portfolio investor.
In an exchange filing on Monday (July 22), the company said that its board has approved the issuance of up to 12,500 NCDs at a face value of INR 1 Lakh each to raise INR 125 Cr.
This comes weeks after its step-down subsidiary Nessa International Holdings incorporated a wholly-owned subsidiary in Qatar – Nysaa Cosmetics Trading.
Back then the company said that Nysaa Cosmetics will be engaged in international exports and sale/ trade/ retail of beauty and personal care (BPC) products, both online and offline, and other related activities.
Founded in 2012 by Falguni Nayar, Nykaa is a wholly owned subsidiary of FSN ECommerce Ventures. The ecommerce chain offers different beauty and wellness products for men and women.
Shares of FSN E-Commerce Ventures were trading at INR 177.30 apiece at 9:41 AM on the BSE on Tuesday, up 1.3% from the previous close.
Earlier in May, Nykaa announced a major restructuring of its business verticals, where its board approved the acquisition of western wear and accessories business of Nykaa Fashion Limited in a cash deal of INR 133.7 Cr.
In July, FSN ecommerce projected a strong revenue growth of around 22-23% year-over-year for the first quarter of FY2025. Also, the company said in a statement that it also anticipates its Gross Merchandise Value (GMV) to rise in the mid-twenties percentage range year-over-year.
