Beauty startup Nykaa plans $3 Bn IPO this year

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 Bn, 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.

Founded in 2012, Nykaa’s platform lists more than 1,200 brands ranging from makeup, skincare to health supplements and hair dryers, according to its website, which logs 55 Mn monthly visits. It has six warehouses across India and receives over 13 Mn orders each month.