The Max Group and TVS-backed fashion and beauty marketplace operator has listed on the BSE and NSE and has achieved a market cap of $13.5bn.
FSN E-Commerce Ventures, the India-based, corporate-backed operator of fashion e-commerce platform Nykaa, floated yesterday having secured more than $721m in its initial public offering.
Nykaa’s shares rose 89% to Rs 2,129 ($28.67) each on the BSE while those listed on the National Stock Exchange (NSE) reached Rs 2,018 ($27.17) apiece in the opening, representing a 79% rise from the issue price. The listing helped lift the company to a market capitalisation of about $13.5bn.
Founded in 2012, Nykaa has built…
