FSN E-Commerce Ventures Ltd, the parent of cosmetics e-tailer Nykaa, has fixed the price band of its initial public offering (IPO) at ₹1085-1125 a share. Currently, Falguni Nayar Family Trust and Sanjay Nayar Family Trust hold 22.33% and 23.67% stake respectively in the firm. Nykaa will allocate ₹42 crore from the issue to investment in its arms FSN Brands or Nykaa Fashions for funding the establishment of new retail stores. Another ₹42 crore and ₹156 crore will be used for capital expenditure and repayment of debt. Nykaa will also use ₹234 crore to enhance the visibility and awareness of its brands.

Source: Mint October 22, 2021 13:54 UTC