Nykaa, two more start-ups to join Zomato in the IPO race; draft papers to be filed soon
Zomato, which would be the first major new age technology firm to list on domestic bourses, will be opening its Rs 9375 cr IPO on July 14
Following Zomato’s advance talks on public listing by a week, Nykaa, Policybazaar and paytm will be filing their draft prospectus this month reported by HT. This comes on the back of a strong investor demand for India’s new technology companies.
Zomato which would be the first major new age technology firm to list on domestic bourses, will be opening its Rs. 9375 crore initial public offering (IPO) on July 14.
In a report published by Mint last month, Nykaa was planning to go public later this fiscal at a valuation of 4.5 billion dollars, a sharp rise from its earlier valuation of more than 3 billion dollars as the beauty and fashion start-up reaped benefits from online sales during the pandemic
Nykaa founded by Falguni Nayar a former investment banker will keep the initial public offering unchanged between 500 million dollars and 700 million dollars.
As per the report by Mint Nykaa has appointed investment banks Kotak Mahindra Capital, Morgan Stanley, Bank Of America, Citibank and ICICI Securities to manage its IPO
In February, Policybazaar, the country’s largest insurance aggregator, is set to list on the stock exchange through a Rs. 4000 crore IPO, which will be dilute a 15% stake, while seeking a valuation of almost 3.5 billion dollars in a report published by Mint.
Several other technology companies are also working on thier IPOs such as online travel portal Ixigo travel and hospitality B2B service provider Rategain and online pharmacy PharmEasy.