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FSN E-commerce Ventures Ltd (Nykaa)

Price Range (₹)

Rs. 1085 - Rs. 1125

Issue Size (₹ in Cr.)

Upto Rs. 5350 cr

Minimum Quantity

12 shares

Bidding Period

Oct 28 - Nov 1, 2021
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Tentative Issue timeline

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About the FSN E-commerce Ventures Ltd (Nykaa)

Nykaa is a  digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. They have a diverse portfolio of beauty, personal care and fashion products, including their owned brand products manufactured by Nykaa. Since incorporation in 2012, they have invested both capital and creative energy towards designing a differentiated journey of brand discovery for their consumers. 

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Strengths

Diverse portfolio of owned brands

Nykaa has crafted a portfolio of 13 owned brands, including brands such as : Nykaa Cosmetics, Nykaa Naturals, Kay Beauty, Twenty Dresses, Nykd by Nykaa, Pipa Bella. 

Nykaa is the preferred destination for luxury and prestige products in India for consumers and brands

The company has the highest average order value (AOV) among the leading online beauty and personal care platforms in India (Source: RedSeer and Company DRHP).

Resilient, capital efficient business with a combination of strong growth and profitability

In the Financial Year 2021, GMV was ₹40,459.8 million with revenue from operations of ₹24,408.96 million and a 6.61% EBITDA margin (Source: Company DRHP).

Risks

Inability to manage growth or execute strategies may impact future business plans

To support the expansion plans, the company may have to implement a variety of new and upgraded managerial, operating, technology etc. which in turn may lead to higher costs and oversight by management.

Inability to acquire new customers in a cost effective manner may impact revenue and profitability

There is risk of increased cost of acquiring new consumers through marketing efforts due to heightened competition for digital traffic in the industry.

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Financials

  • Net Worth
  • Total Income
  • Total assets
  • Total revenues from operations
  • Net cash inflows/(outflows)
  • Total borrowings
  • Profit/Loss for the year
  • Restated Basic Earnings per Share (EPS)

Industry Trends

Indian Beauty and Personal Care (BPC) Market: Beauty and Personal Care Market in India was sized at Rs. 1,267 billion in 2019, growing at a CAGR of 13% in the last 3 years.

Growth in BPC Spend by Youth: Consumers in the 25-35 years age group are the most active BPC buyers. The customers are also more inclined to buy prestige products. The buying behavior of these consumers is different from that of a traditional Indian shopper.

Increasing BPC Spend from Non-Metro Cities: There has been an increase in aspirational spending on BPC products especially in non-Metro cities enabled by rising disposable income, aided by an increasing female workforce participation, increasing popularity and growing influence of social media, and lifestyle changes.

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  • lock-in of 3 years
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  • lock-in of 3 years
    Fill in the required details

    Fill in the quantity of shares. To apply at maximum price, check the cut-off price box and amount is auto calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on “Add bid” option.

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