BENGALURU (Reuters) -App-essentially based fully Indian cosmetics retailing startup Nykaa plans to go public by early 2022 at a valuation of greater than $3 billion, Mint reported here on Wednesday, citing a particular person privy to the subject.
Personal equity firm TPG-backed Nykaa’s plans for an preliminary public offering comes after Burger King India, Mrs. Bectors Food and Mindspace Commerce Parks REIT seen gorgeous subscriptions and successful listings.
Launched in 2012, Mumbai-essentially based fully Nykaa grew usual by selling cosmetics and grooming products on its online web page and apps, sooner than expanding into vogue, pet care and family supplies.
The startup is working with advisers to arrange for a portion sale in Mumbai, Bloomberg reported here on Tuesday evening.
Nykaa also counts India’s Hero Enterprise and Constancy Administration and Learn Co among its backers, in step with media experiences.
Nykaa and TPG declined to enlighten.
Reporting by Chandini Monnappa in Bengaluru; Enhancing by Subhranshu Sahu