includes a primary issue of stock worth as much as Rs 630 crore, and an offer for sale wherein existing shareholders will offload up to 43.11 million shares. Investors who are likely to sell stake include TPG, Light House India Fund, JM Financial, Yogesh Agencies, Sunil Kant Munjal, Harindarpal Singh Banga, Narotam Sekhsaria and Mala Gaonkar. Promoter Sanjay Nayar Family Trust will sell 4.8 million shares. Founder Falguni Nayar and her family will continue to own a majority stake after the IPO. They currently hold more than 53% in FSN E-Commerce Ventures, the parent firm of Nykaa. Kotak Mahindra Capital, BofA Securities, ICICI Securities, Citibank, Morgan Stanley and JM Financial are book-running lead managers of the issue. Nykaa now boasts of over 1,500 brands in its portfolio, including leading luxury labels such as Bobbi Brown, L’Occitane and Estee Lauder, and it has even opened 68 brick and mortar stores in the country.
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