Indian cosmetics retailer Nykaa looks to list at $4.5b valuation
Photo: Nykaa
June 2, 2021
Nykaa plans to go public later this fiscal at a valuation of $4.5 billion, a sharp rise from its earlier valuation of more than $3 billion, as the beauty retailing startup gains from a marked shift towards online sales during the pandemic.
Nykaa, founded by former investment banker Falguni Nayar, will keep unchanged the size of the public offering at between $500 million and $700 million, said two people directly aware of the internal discussions. Both declined to be named as the talks are private.
They said the rise in Nykaa’s overall valuation is led by a spurt in revenue and profit for the e-commerce platform, primarily due to covid-related disruptions, which has pushed more consumers to purchase online.
Indian logistics unicorn Delhivery raises $277m ahead of IPO
Photo: Unsplash
May 31, 2021
SoftBank-backed logistics startup Delhivery has raised $277 million in a funding round led by American investment firm Fidelity as it prepares to launch an initial public offering (IPO), per the company’s latest regulatory filings.
The Gurugram-based logistics company has passed a special resolution to allot 5,63,349 Series H fully paid-up participating cumulative compulsory convertible preference shares of Rs 100 at an issue price of Rs 35,655 per share to raise Rs 2,008.62 crore or $277 million, the filings disclosed.
Fidelity Investment has led the funding with about $125-million infusion while Singapore-based GIC’s Gamnat Pte has contributed nearly $75 million. Abu Dhabi-headquartered Chimera Investments and Pacific Horizon Trust have invested $50 million and $25 million respectively.
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Delhi-based logistics startup Delhivery has raised $277 million, pushing its valuation to around $3 billion. The IPO-bound startup’s latest round of funding was led by US-based Fidelity. Singapore’s GIC, Ballie Gifford, and Chimera also participated in the round.
While Fidelity has infused $125 million in the startup, $75 million was pumped in by GIC. The investment also comes six months after Steadview Capital bought $25 million worth of secondary shares from an early investor in Delhivery.
The ten-year-old startup which is looking ahead to go public next year is aiming to raise $650-$800 million in the market listing and is already in talks with Kotak Mahindra Capital, Citibank, Bank of America, Axis Capital, among others as per media reports. The startup will be expecting to peg the valuation around $4 billion for its IPO.