With an aim to securing additional capital for its growth and operational needs, Indian beauty and personal care e-commerce giant Nykaa is set to raise Rs 125 crore (USD 15 million) through non-convertible debentures (NCDs). The company’s board of directors have approved the issuance of up to 12,500 NCDs. Within this new development, each director with a face value of Rs. 1 lakh, will be issued in dematerialized form on a private placement basis to a foreign portfolio investor.
This development is expected to provide Nykaa with funds to accelerate its growth plans, expand its product offerings, and enhance its operational capabilities. As one of India’s leading beauty and personal care e-commerce platform, Nykaa has been growing rapidly since its inception. Notably, Nykaa is the first Indian unicorn startup to be headed by a woman, Falguni Nayar in 2020.
Nykaa’s business model has evolved over the years, expanding from online-only sales to an omnichannel approach. It also includes physical stores and offline sales. Today, the company retails over 2,000 brands and 200,000 products across its platforms. Additionally, it offers a wide range of beauty, wellness, and fashion products manufactured both in India and internationally.
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The NCD issue is expected to be a key milestone in Nykaa’s growth. It is allowing the company to tap into new markets and opportunities. With its strong brand reputation and growing customer base, Nykaa is well-positioned to continue its rapid growth trajectory.
About Nykaa
Nykaa redefined e-retailing in beauty and personal care since its inception. It has also played a very important role in fostering the growth of what was otherwise a relatively nascent ecosystem. The company has been leading the way in offering domestic, international, luxury, prestige, premium, niche, and cult brands to the market, along with expert advice and videos that deal with the diversities in consumer needs and preferences. Additionally, Nykaa has diversified into building up an excess of 72 Luxe and On-Trend and Kiosk Stores, a fast-growing online community of beauty lovers, and a Beauty Helpline providing one-on-one assistance.
With over 2400+ 100% authentic brands, Nykaa brings together a carefully chosen array of makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness products tailored for the unique needs of every individual.
