Nykaa IPO opens today: is there a need to subscribe or just avoid the e-trailer?

Nykaa IPO

Nykaa IPO

New Delhi: The IPO of 5,352 crores of the IPO of the FSN E-Commerce, which is the owner of Nykaa was opened on Thursday. The TGP backed up the startup’s initial stake sale is a mix of the fresh issue and is also an offer for the Scale (OFS). Most of the brokerages are positive on the IPO and it has given a subscribe rating. But however, the Marwadi shares and the Finance has also a word of caution for the investors.

Furthermore, the brokerage has given a “subscribe with caution”, regarding the rating to this IPO. Considering the TTM as of June 2021, adjusted EPS of Rs 2.54 on a post-issue basis, the company is going to list at a P/E of 443.46 with a market cap of Rs 53,204 crore, it said.

The three-day stake sale, of Nykaa, is going to begin on Thursday, on 28th of October, and furthermore, the issue can be subscribed till 1st November on Monday. Nykaa has a large opportunity in the BPC (beauty and personal care) market that is poised to grow at 12 percent per annum by 2025 while the fashion market is expected to grow at 18 percent per annum by 2025. Also, the company has posted strong growth without a substantial cash burn, said Hem Securities. 

The beauty and personal care market has a large addressable market opportunity, especially in India where millennials tend to prefer buying brands and look for easy buying options such as e-commerce," it added. "Unique business model and first-movers advantage, Nykaa is likely to get a healthy traction ahead." 

Nykaa is a multi-beauty brand and a personal care platform in India that comprises beauty products, and fashion items. The platform is rapidly spreading and is soon trying to launch “Nykaa man”, which will consist of the men's products. Nykaa was founded in 2012 by Falguni Nayar, a former investment banker with Kotak Mahindra Bank. The start-up is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers 

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