For years, Falguni Nayar guided the founders of Indian companies through roadshows in Europe and the U.S. as they made their way to stock market debuts. Now the former investment banker is steering her own startup to an historic initial public offering.
Nykaa, her brainchild, has grown into India’s top e-commerce site for beauty products, with the endorsement of Bollywood stars and a fervent following among twenty-somethings. The startup, formally known as FSN E-Commerce Ventures Ltd., filed preliminary documents late Monday for an initial public offering, which Bloomberg News has reported could value the business at more than $4 billion.
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Typhoon Behind Chinaâs Deadly Floods Barrels Toward Key Oil Hub
Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels
Fed Seen Speeding Taper of MBS in Early-2022 Start to Pullback
Chinese Startup Meicai Weighs Hong Kong IPO After Crackdown
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Owners of Condom Maker Lifestyles Mull $500 Million Sale
China Considers Turning Tutoring Companies Into Non-Profits
Banks Rethink Evergrande Mortgage Halt After Queries From HKMA
âReally Annoyingâ Chip Shortage Constrains Volvo Before IPO
Looking Into a Crystal Ball With Bloomberg Intelligence s Chief Equity Strategist
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For over a decade, Deepinder Goyal’s Zomato Ltd. has delivered soul food from spicy dosa crepes to soft bread Pav Bhaji with curried vegetables to millions across India. Now, investors get a taste of the fast-growing food delivery giant. The startup soared more than 80% in its Friday debut following a $1.3 billion initial public offering. Zomato, the first of a generation of internet unicorns to tap India’s capital markets, has generated a seldom-seen frenzy among the local investment community. Investors bragged on Twitter about snagging shares in the startup, yearning for the sort of returns Facebook Inc. and Alibaba Group Holding Ltd. generated. Its IPO is India’s biggest since March 2020, and got about 35 times more bids from anchor investors than shares it intended to sell.
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