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Indian beauty startup Nykaa aims to raise $500 million through IPO

Shortpedia

Content Team
Image Credit: Shortpedia

Indian e-commerce beauty company Nykaa is planning to raise $500 million through its initial public offering, sources have claimed. The beauty startup is backed by private equity firm TPG. The proposed IPO will reportedly consist of a fresh issue of shares of up to 5.25 billion rupees ($70.63 million) and an offer for sale of up to 43.1 million shares. Nykaa is yet to release an official statement in the matter.