Shares of FSN commerce Ventures, which operates the Nykaa brand, opened at USD 27.2 and went as high as USD 29, up from its initial public offering price of USD 15 per share (on the higher end). The company has raised over USD 721 million in the public offering.
The nine-year-old retailer operates over 2,500 beauty and personal care brands and sells them on its website, apps and more than 80 brick-and-mortar stores.The company has said it plans to deploy the capital it raises from the IPO to expand the number of brands it houses and set up new stores.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now