Nykaa, a marketplace for beauty and personal care products, has announced its plan to raise Rs 125 crore through non-convertible debentures from a foreign portfolio investor, as stated in a regulatory filing.
Nykaa’s Board has approved and authorized the issuance of up to 12,500 redeemable, non-convertible debentures with a face value of Rs 1 lakh each. The purpose is to raise Rs 125 crore in dematerialized form through a private placement to a specific foreign portfolio investor. This information was disclosed by the company in a notice filed with the Bombay Stock Exchange.
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Nykaa has recently established a subsidiary called Nysaa Qatar in order to generate income from global markets. This division, operating as a part of Nessa International, specializes in the commerce of women’s cosmetics, toiletries, beauty and hair care items, as well as perfumes and beauty soaps.
Nykaa has articulated its aspirations to expand into the GCC region by investing Rs 20 crore in FSN International. The company has announced its intention to spend an additional $1.9 million through its foreign subsidiary, Nyssa Foreign.
About Nykaa
Founded in 2012 by Falguni Nayar, Nykaa is an Indian online retail company with its main office located in Mumbai. The company offers beauty, wellness, and fashion products for sale via its website, mobile app, and more than 100 brick-and-mortar stores.
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